That looks great. Have you taken a temperature reading at the top of the pipe just behind the seam with and without the cover? It's possible that your cover may be able to lower the temperature. That seems to be the spot where most folks are melting a little sole onto the pipe. If it's cooler, maybe they can avoid melting and you get another marketable feature.
Ooops, sorry guys, I guess I don't know my bike too well and a bit ignorance! I only have my 03' VRod for about a month and I had my dealer installed the 16 Gauge before I had a chance to even see the stock pipe and that's why I didn't know I don't need a covering clamp for the 16 Gauge! Thanks for clarifying!