I like the idea of the exhaust wrap in principle, but I would be worried that it might come loose in time and tangle with the steering knuckle which is close by.
I painted my block and head with gloss black. This looks good and lasts longer and is easier to wipe clean. I also left all alloy parts unpainted. This makes the motor look lighter and higher tech. (Ha Ha)
Just get the headers performance coated, its the best and the cost wont matter as you will be too busy looking at them.        Cheers,...ron.

If wrapped tightly shouldn't be an issue. You can get stainless steel zipties ( electrical suppliers keep them )which do a good job of securing the ends and look very neat and tidy. Used them on mine and still going strong.
Len

by using the word "AMELIORATING" you are looking for the least painful and least expensive solution.
I am assuming the car is not a show car.
Might be best just to leave them as they are.