Be aware that if your turbo leaks from the feed (which some do) theirs a chance of a fire, your better off not wrapping it (the turbo housing)...stick with just wrapping the down pipe..imoi plan to wrap the downpipe and add some heatshields to reduce underhood temps.
also plan to add a turbo blanket and use the stock heatshield
heat in that area is inmense so lets see...
Can't remember the last time I've seen an engine pic with wrapped pipes on this site. I think that alone speaks to its benefits vs risks.