Wraps don't actually improve the way the shooter sees arrows in flight. But they sure make your arrows easier to find. And if you do not get complete penetration for whatever reason the wraps help identify how much penetration you got as the animal bolts away.
For me the adhesion of wraps is less than the adhesion directly to the shaft. But they offset that weakness by being crazy simple to prepare. Half the time I don't even wash my shafts anymore. Just wipe them down with a fresh paper towel and apply the wraps. Haven't had a problem with that yet - knock on wood

They do add some additional weight to the back end which can be problematic. Especially if someone decides to use them with lighted nocks. But I simply add 10-15 grain of insert weight to make up the difference. Would likely be more if I planned to shoot lighted nocks ever again.
Biggest advantage to wraps is the rise in your social standing at the local range
