Yes I'd wrap it. Will help reduce underbonnet temps and protect the wiring on the bulkhead from getting baked
If it`s for a daily / road car I would not wrap it - you`re unlikely to be able to seal it from the weather and may even enhance corrosion.
I used 50ft of 1" wrap and a further 15" of 2 inch wrap on my mk2 8v milltek manifold and covered it in DEI black silicone spray. DEI titanium wrap is recommended. I did price up Zircotec plasma coating but at 300 + Vat it was very very expensive!!!