Interesting. I tried it recently without the shellac and I am pleased with the result. As jazzcat says it is easier to wrap which is a big plus for me and it is way cheaper. I found that with gel pads plus regular tape AND gel padded gloves it was all too fat like masturbating in boxing gloves, with cotton tape and gel gloves there is a much better feel and no danger of going blind.
Do you just wrap the bars and brush on the shellac? What does the finished deal look like and what is the advantage over just the tape.