The Radster....gettin' technical! Very good explanation, BTW. In the case of my brother, the header from TRD (Toyota Racing Development) (insert turd joke here) was cooking the power steering rack seals; after wrapping the header, problem solved & underhood temps were noticeably reduced; life of the header was dramatically shortened, however. The TRD 'techline' told him that the extra temp. was killing the header, and not to use wraps, saying they were tantamount to snake oil.....like Rad said, race teams use them; in a true racecar, who cares how long the headers last, right?
If the TRD guys weren't making up some BS, perhaps that risk wouldn't be as high in the Feej since ram air is blowing over the header pipe....cooling it.
IIRC, I saw a thread here somewhere (not too long ago) where a guy was reporting postive results with header wrap in making his FJR run cooler...