Came across this thread and I thought I should chime into this, as I tried both padwrap and padskinz and I like the padskinz stuff way better. They're both similar but padskinz are lighter for sure which makes a difference to the feel of your pads. I also found that the padwrap stuff is "plasticy" and very firm. Padskinz felt more like real leather and was way easier to work with cause it's more stretchy and flexible. I read on the padskinz site that they were the ones who invented the stuff and have been around for 3 years. The only thing I liked better about padwrap was that it came off easier. Not sure if that's a good thing or not though.
Oh ya, padskinz is a Canadian company too. Anyways, just my 2 cents. Both are good products but I like the padskinz stuff the best. Go Flames Go!