My grandparents had that, along with the plastic runners on the carpet. We visited once or twice a year, and always they had the plastic. I remember thinking, "When do you take it off -- when the Queen of England comes over for tea?

Anyway, regarding bike wrap: just get some helicopter tape, or Lizard Skins protectors, and cover the high-risk areas: drive-side chainstay, perhaps the underside of the downtube, maybe the back of the seat tube. Even all of that seems a bit overkill; after all, it's a bike - not a fetish object.