The heat gun is excellent for heat shrink tubing. I never thought about servo leads, but there are places that would really help. Good idea there. It's good to insulate spots where wiring goes thru formers, etc. I've had mixed results with holding wheels on landing gears. Glow fuel can mess that up, but a drop of epoxy on the end allows it to make a good wheel retainer.
Pete/Rudolf- that BSA crankcase sure brought back memories of my 250cc. It was an BSA rebadged as an Allstate to sell over here. My dad put it in front of a go kart for us to drive. Yes, it worked really well too. We had carb problems with the float position.