Exhaust wrap insulates the pipe which if you have an expansion chamber or a gutted stock pipe (two stroke), boosts performance because the gasses inside the pipe get hotter and return to the engine faster. The exhaust wrap also provides some heat protection. Not a lot, but some. I recently bought 15' of exhaust wrap on eBay for $10 with free shipping, and it comes in different colors. I got orange, because it matches my gas tank. As far as legs touching the motor is concerned, if its happening then you're either doing something wrong or you've wrecked, which could be the same thing. There isn't a guard you can buy for the engine or the muffler, but you can make a guard out of sheet metal. Mesh steel is the best because it has holes that still allow some heat to escape, which is necessary for the engine and also if a leg were to touch the guard, it would not be as hot. But I think exhaust wrap looks better and should provide adequate protection. I also ride in shorts and a t shirt, unless I am either in a work uniform or it is too cold for shorts. And sometimes if it is extremely hot, I will take my uniform in a backpack and change at work.