first time I used the exhaust heat tape wrap on a Laverda triple, I wrapped a set of previously rusty chrome header pipes that I sand blasted bare then tape wrapped. They rusted again, under the heat tape, which when it got wet trapped the moisture.
then I did a little research. I sand blasted the header pipes yet again, and sent them out for ceramic coating, then I heat tape wrapped them again, as well as then spraying the heat tape with a high heat paint that soaks into the tape and seems to water proof them. That set of header pipes are on my 79 1200, and now every spring I respray them with the high heat paint, makes the tape look as new again.
I like the exhaust heat tape, retains heat in the exhaust stream, saves me from burningmyself on the header pipes, and more importantly from my perspective, allows me to use a cosmetically less than perfect set of header pipes rather than splashing out huge money on re chromed header pipes. Did you know that a new stock set of chromed triple header pipes are now close to $500? They look great until you start the bike, then they turn blue......
On my 84 RGS I have larger diameter stainless steel header pipes. I got sick of them turning an unattractive yellow, and I heat tape wrapped them as well. They won't rust.
http://www.thermotec.com/products/category/1/heat-insulation-wrap.html
Paul LeClair