Munch that looks like it should work fine. When I rebuilt one of my friends '55, (ex-drag car) we put the inner fender back in but he wanted to keep the fenderwell headers. He wanted to keep the hole as small as possible so I wrapped them and gave 1/2" clearance around them. It never bubbled the paint.
I hope I have enough airflow with no side panels that the right header tube dosen't bubble my paint as it is close to the firewall or I will have to wrap that area.
P.s. I did try to trace down my friend last year near his birthday. All of his family moved or passed away back in the mid 80's so no help there. Tried an internet search, with a common first name and a last name of Smith....there was over 400 in that area. Have to wait till he contacts somebody here some day.