The heat the wraps are containing isn't in the engine, though, it's in the gases that are leaving the engine. It will make your pipes hotter and because the pipes are connected to the head, the head may run a bit hotter.
Something to consider though... hotter exhaust gases flow faster and faster moving gases produce a better scavenging effect in the cylinder. This, in effect, pulls more hot gas out of the cylinders.
I figure it's probably a wash, but the only way to know for sure is to test it empirically. Get a head temp thermometer like something they have at TrailTech and hook it up. Run for a week or two and check the max temp recorded. Now wrap the pipes and repeat.