Why? Not for looks. Not for expectations of performance. Please don't turn this thread in to arguments about this.
Why then? To try and move some of the heat away from the coolant hoses. Once the bike is fully heat soaked at the end of a long day on the road and then get stuck in traffic coming home the temp rises crazy quick at the lights which bugs me.
Only thing to note is that I painted in black with high temp paint before wrapping because it was in really shite condition and was concerned about the wrap holding moisture against it when parked.
My one concern is mud ...