The real benefit of wraps is peeling off everything when you refletch, with no damage to the shaft. What if you scratch or damage the spray paint?
I bought my wraps here.....
http://www.bowmanhunter.com/
Best prices I have seen at $4.50 per dozen. I have the whites on my hunting arrows w/ 2x white vanetec's, and one flour orange vanetec and they look sharp and are SOOOO easy to refletch. No endless scraping when I want to refletch. I just cut a slit down the wrap and peel it off.