Have you read this thread posted by Turkish? It shows research that using wraps is actually detrimental in weight training.

http://forums.steroid.com/lifting-te...-knee-joi.html

“Knee wraps may help you to use heavier weights for squats and leg presses in the gym, but regular use might not be such a good idea. According to British sports scientists, knee wraps alter how you move during a squat in such a way that you're likely to cause more damage to your knee joints.”