Jason, wraps are currently a rage amonst the vert bow crowd. They have been out for a few years. They are purdy and make refletching a snap. However, you cannot just replace one vane. You may find that the quick spins are a pain. Try buying as few as possible to see how the lump in your track affects arrow flight. The other main reason guys use them is because they look good. Many colours and combos are available. A crossbow doesn't need much spin in the arrow flight. Generally you need only a few degrees of offset or none at all.
Jason, have you ever considered fletching? There are wraps without fletchings as well. I personally really like fletching my own arrows. Its quite alot of fun to start from scratch and end up with a great group.
If you do not want to fletch with a jig and its not very expensive, wraps with fletchings are a great way to go.
Don