Many more people wrap their horses than need to. Some sort of protection is in order if your horse tends to hit himself. There’s no point in risking him getting hurt if he’s prone forge or interfere. But lots of people wrap just because they think they should. In the heat of a Florida summer when bandages inhibit your horse’s ability to shed BTUs from the blood vessels which lie so close to the surface, it doesn’t make much sense. Nor is it a good idea in wet or muddy conditions when absorbent wraps make your poor horse carry that much more weight around as he works.
It’s also been shown that most normal wraps or boots don’t really do much to support your horse’s tendons. If you know how to wrap the way race horses are sent to the post, that’s different, but more likely you’ll risk further injury by not wrapping correctly when you’re trying for enough support to make a difference.
Boots? Just be sure they don’t rub or that they let sand or pebbles get up underneath them. All in all, I vote for natural if at all possible. The exception, of course, is exhibitions or victory ceremonies. Then wraps are a nicety that you’re allowed to show off.