Thermal Sleeves on Wires or Wrapping the Headers?

[Spool]

Hey guys. 73' C20 here.

I'm considering options on protecting my starter wires/connections as they sit an inch from my headers.

Originally, I was thinking thermal sleeves and then thought, in wrapping my headers I can solve the same
problem with the additional bonus of covering my old looking headers.

After looking up some things on the forum and online, I saw that the header wrap can trap moisture and lend to corrosion
of the headers themselves. Has anyone had any experience with this?
I like the idea and think it would look great but don't want to invite future problems.

Any tips or advice from others who have wrapped their headers?
Any product recommendations? I see the cheaper ones tend to fade early on.
Can you wrap the headers while their mounted?
Do you have to use water?