I'm thinking of wrapping my rhineharts extreme duals to help with heat! Has anyone done it and noticed a good amount of heat reduction?

 

It will help some, but it is not going to be a night/day difference. If you live in a wet or humid area the wrap will hold moisture and rust the pipes quicker. For the cost of the wrap plus a few bucks you can have your head pipes ceramic coated, a much better option IMO.