I ended up using one of those heat wraps for my powermaster. it has Velcro strips on it to stick once in place. although I had to insulate the battery lug on the starter due to the foil layer on the wrap was arching out on the lug.
the biggest fear I had when going the wrap direction as I didn't have a heat shield was the thought of the wrap holding the heat in. I had to convince myself the ends were open so air would flow.