If you replace any water pipe with PEX plastic pipe it's easy to slide insulation over the pipes before fastening them in place, that way you never have to split the insulation to get it around the pipe, I replaced a lot of my old iron pipes with PEX because it doesn't pull the heat out of hot water in the same way iron or copper do and because it's a single smooth piece of pipe with no elbows you can use a slightly smaller pipe and get the same flow rate along with getting hot water to tap sooner.
I like the reflectix pipe insulation because you wrap it around, allowing it to fallow odd shape in old plumbing and go around valves.
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