i'm thinking about completely/nearly completely wrapping my frame w/old innertubes. i wrapped the top tube, to protect it when i lock up to poles, but it still gets scratched from public racks and my abuse as it's my work bike. are there any winter related disadvantages to this, like salt water getting trapped next to the frame? also, should i take out the water bottle and cable stop braze-on screws before i wrap over it?

this of course also has the bonus of covering decals and making it look less valuable as there are lots of bike thefts around here.

opinions (i'm mostly curious about how this is in winter and if water will get under it)?

-edit-
i'm also still doing a couple of cyclocross races on it, should i wait until after that? it's already so heavy i don't think it will matter...