Hi Tom,
I'd recommend against the insulation wrap.
The wrapping is hard to keep clean, and it will absorb any oil, etc.
that might drip from the valve covers, and then it's a serious fire
hazard. Over time, it also insulates well enough to melt its inside
surface onto the exterior of the header tubes, which makes the headers
nearly impossible to fix, and it causes the headers to run hot enough
that you'll get significantly faster aging (corrosion and stress crack
formation) of the headers.
Get the headers coated in ceramic instead. All the benefits of the
insulating wrap, and none of the bad consequences.
If you want to keep your feet more comfortable, then get the 1/16" thick
insulating sheet material that's available at speed shops, back it with
a sheet of 1/16" aluminum, and rivet that onto the underside of the
floorboards so you have a floorboard-insulation-aluminum sandwich. The
aluminum reflects the bulk of the heat, and the insulation stops the rest.
Good luck,
Theo
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