A note on heatshrink. Not all heat shrink are created equally. I have used some pretty horrible heatshrink that wrinkles and kinks when shrunk. The end result looks like absolutely crap. The Polyolefin 3:1 heatshrink from Sonic Craft is really nice. I'm sure many other places have good heatshrink.
The heavy duty adhesive lined heatshrink can be used, but keep in mind that if you ever want to remove those banana plugs, the adhesive lined heatshrink is going to be a pain to remove and it's going to leave a glue film on the metal/cable. For instances where I want a heavier duty heatshrink, I just use two heatshrink tubes to provide a double-wall (one on top of the other).