Purely cosmetic with one side benefit. That being that the heat coming off the pipes at a stand still has now been moderated enough so as not to damage/melt the plastic bullets housing the turn signal.
I tried the DEI Titanium wrap but it did not last. It came off in clumps and started shredding almost immediately. I now have white fiberglass wrap that went on wet and turned a very light tan. Looks to stay intact.
These wraps are a great idea for keeping the heat down in an engine bay. Being exposed, as they are, to everything man and nature can throw at them is a real test. The fiberglass is cheap and it will not be a big deal to reapply when it looks nasty.