I wrapped mine when I got my first GSA a couple of years ago and decided last month to re-wrap them. That's when my OCD took over...
I bought some 5mm cobalt drill bits
Drilled out all the stainless steel rivets holding on all the plastic corner pieces and the stainless steel rails that the panniers hang on. I drilled out the rivets holding on the strap loops on the lids. They are tough little buggers and I blunted more than one drill bit!
Once all that was off (and I'd wire brushed away as much oxydised aluminium as I could where the stainless steel rails had reacted with the aluminium - I put up a post about this a couple of weeks ago) I started wrapping the boxes, running the wrap under the corner pieces and onto the base. It was trimmed there and over wrapped on the base (I didn't want any aluminium exposed if at all possible) Some judicious use of heat and some patients was required to mould the vinyl wrap around the rivets that were left in situ. (In retrospect and if I do the wrap again, I'll drill those buggers out and replace those too.)
Then it was cutting out all the rivet holes and trimming around the back pads etc.
Then it was time to start re-attaching everything... Pop-Rivets were no good as they are (generally) not waterproof. They also have the issue of being difficult to remove if you want to re-do any of the work (like a colour change should you want to if transferring the panniers to a different colour bike?) So I went for M5 x 12mm Stainless Steel Large Head Flange Torx Button Screws, washers & nylock nuts.
A dob of clear silicone at each bolt hole and all the bits were refitted nice and tight.
The one down-side is that there are now some nylon nuts on the inside of the boxes, though to my mind, the intrusion is minimal and the wrap is pretty much total, meaning that the panniers don't (and won't) look like they've been blasted with salt from a shotgun, they clean pretty easily and - as I've already mentioned - a change of colour is pretty easy.
I'm happy with the job that I've done and I guess that's pretty much all that matters.