I wouldn't wrap you pipes. Only posers and street punks wrap their pipes, and after a couple of months of riding they look like garbage.
As for blacking out the rear sets and such, go for it. Just don't do powder coating as it will scratch easily and show wear marks from your feet. Instead, go find someplace that does Anodizing and have them anodized black. It looks fantastic and is far more durable than powder coating.
If you are dead set on black pipes, search out a company that will do Black Chrome. The T300 Triumph S3, Trident, and Sprint all had Black Chrome pipes and they look awsome. Only problem is they are a dirty so-and-so to keep clean.
Google Black Chrome Plating
[ This message was edited by: crashmasterd on 2005-09-24 09:19 ]