Engine/Transmission (1998.5 - 2002) Exhaust/Turbo heat wrap

[TFlewitt]

I'm looking to control underhood heat with exhaust wrap. Anyone have experience with doing this - wrapping the turbo and a portion of the downpipe? Did you use a blanket, or 2" wrap? Was it effective? Did it affect the performance at all? Any longer term users have any problems with rust/corrosion on stainless/aluminized 4" downpipes? Thanks!