2 things. and im speaking out of experience and ill upload some pictures. NEVER EVER wrap aluminized steel or ANY steel pipes EVER. they WILL rust out VERY fast.
Here are a few pictures of what i did exactly like you did and the aftermath just 9 months later. this was on my VW TDI 340HP build.
Starts at 5:59 for the exhaust.
Here is the link to my cobra pipe build. I had to hollow out the CAT as it was TRASHED. a set of 2 pipes ob ebay was $140, for $75 more i added the lower DB baffles.
If you could get your covers to cover up that crossover i would say your in good shape! DITCH those exhaust clamps and go with some proper clams like i did that look good. ditch the heat wrap and spend the $30 to have it ceramic coated.
Here is the aftermath
from this
TO THIS in 9 months of driving, that BTW is VHT's exhaust paint and a HIGH quality wrap. 2 layers
and for the LIFE OF ME for the last 30 minutes i can NOT find the pictures i took but i found a screenshot of when i took the engine out
see whats left of that rusted out POS?????? yea
Here is the rocket
Slip on exhaust anyone can do (How i fixed up my rashed out stock pipes)
if you had done a search here for exhaust you would have found it fairly quickly. there are many others.
here is a link to the cobra pipe lower DB... they are amazing, NOT quiet but not dumb loud. right where you want it to be right on the edge of becoming too loud but only when you give the beans