I've only ever heard horror stories about using header wrap. I use them on my bike, but stray away from it on the car. I just used heat shields where necessary. As far as max temp, I figure they're too hot when my starter gets heat soaked.
If you had stainless headers you could safely use fiberglass composite wrap without too much concern for ruining the headers. I have personally been in a vehicle with header wraps that caught fire. Think of it like a wick that will absorb oil etc. I had a set of headers done with http://www.jet-hot.com/ and I could literally hold the primary tubes 5 minutes after running the car. Its not cheap but keeps the under hood temp much lower. If you are concerned with heat in the floor pan you would be better off constructing heat shields with light gauge aluminum.