Ahhh... Only the Exhaust Turbine side gets wrapped: That makes more sense. I still figured the intake turbine would get bleed over heat via the shared shaft, though.
Another interesting point you made that I never considered is that a hotter turbo spools up faster.
Sounds like something I might consider doing if you find a good blanket and let us know about it (especially since I will be installing a new intercooler soon).