Free: Contests & Raffles.
Wrap Pros:Make you look cool!Requires very little shaft prep.Not overly sensitive to glue type.Make arrows easier to find.Reduces set time when using solvent based glues.Wrap Cons:Frickin' ExpensiveExtra weight on the back effects FOC.Frickin' ExpensiveNot as strong a bond as direct to shaft.Frickin' ExpensiveUsually requires replacement of all three or four vanes on repairs.Frickin' ExpensiveI personally use wraps on all my arrows. The saved time in preparation and the help in finding arrows in the field is enough to offset the cons in my opinion. Just wish I could find them for 1/4 the price. I buy wholesale in bulk and they are still ridiculously expensive!If you can get together with a few friends and buy a single color and length in a serious quantity it often pays to take a wrap in to a sign and banner store and ask them to make them. Most target shooters I know do this and save quite a bit. Allows you to make them just the size/length you want too!
How expensive is "frickin' expensive"?
I wrap with 4" Bohning wraps. It costs me about $0.65 an arrow. They add about 5 grains to the back of your arrow, which shouldn't affect your FOC too much, but that depends on the rest of your setup. I shoot a 250gr head, so it doesn't do much for me. The 2 biggest reasons I use wraps are the ease of repairing damaged vanes and the ease of finding lost arrows. I have no plans of ever gluing my vanes straight to my shafts because I don't want to damage the shaft when I have to scrape the old vane and all the glue off to replace it. I also have no idea what acetone or something similar might do to the shaft if I have to use it to remove the glue. I know that with a wrap I can dunk my arrow in hot water for a few seconds and just peel it off, then stick a new one on and glue on more vanes.If you don't care what they look like or want to design your own, you can just buy blank or bulk bumper stickers and use those on the cheap. A 5.50"x2.14" would yield 2 wraps per sticker if cut in half lengthwise. That would run you $35 for plain black or white, or text in any combination of the 2 colors, or $52 for black, red, white, plain or text in any combination of the 3 colors. In both cases you'd have 500 wraps. That's between $0.07 and 0.10/wrap, and you'd have more than enough for the rest of your life. And no more expensive than a couple of ruined shafts from scraping your vanes off with a razor or not finding them. Something like this. https://www.stickerguy.com/images/sticker-guy_bw-rb_pricelist.pdf