xain has t50 transmission in car
abt wrap - yes, when changing oil filter, header wrap is impt , header wrap reduces heat in engine bay
anyone accidently will touch the pipe because its so close - accidents do happen and safty first. orginally 20v header downpipe comes with wrap and cover if you recall.and o2 sensor in the end.
i dont have o2 sensor and car backfires while shifting. 
wrap gets soggy and looses tension in rain or engine wash. and you will need another wrap after few months to rewrap on first one.
bearing wont let flywheel bolts touch the clutch plate .
the fun of car yr making isnt in top speed but its a superb drive at corners. you will oversteer initially and make 360 inside a 90. be prepared mentally for such dramas. moving engine forward to fit dist. reduces rear traction weight
whn drifting leave road space on the inside on turn to handle unexpected 360 turn. 360 helps loose speed if you enter too fast on slippery road
(if you recall ae86 360 drift videos )