I have had 3 C-10's. (Yea, I know this is a C-14 tread).
Always wrapped my head pipes because I think it helps a tiny bit when riding in traffic (And it looks cool). I think there is slightly less heat blown back on your legs in stop and go traffic.
Never had a corrosion problem because of the wrap.
NOTE: THe wrap is available (On Ebay) in red, blue, silver, white, and gray I think.....
Ride safe, Ted