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If your using stainless, then I'd wrap it. Under a light load cruise situation, you won't be creating much heat. I'd try to retain as much heat as I could, and then vary the VGT to optimize the combustion vs. backpressure. IE, pull your fuel back to get it as lean as possible, but you need boost to do that, thus a heat wraped VGT might work very well....mabye...I'm just thinking out loud.
It would be fun to try, I hope to see you progress with this project.
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