Ed
I live in southwestern Ontario. They shrink-wrap the boats here also. As long as it is vented well it is great you will have as clean as a boat as you left it. Add a small heater in the early spring and you can start your small jobs early.
Joe

To my understanding and limited experience, you shouldn't shrink-wrap a boat with a painted hull ... the trapped moisture against the paint would damage it. A fabric cover apparently wouldn't have this problem. Gelcoat doesn't exhibit this behavior.
FWIW, Mike 1979 C&C30,"Blue Dolphin" Fair Haven, NJ

Those New England types are always claiming a monopoly on things. A lot of people shrink wrap their boats in Erie, PA. It's relatively expensive (compared to some covers) and creates a lot of waste in the spring. Also, some people say that a cover that hugs the hull is not good for the paint job (something about lack of air circulating). Other than these issues, shrink wrap must work pretty well, or it wouldn't be so popular.
Matt Wolford

Shrink wrapping is also popular here in the Finger Lakes area of New York. The boats I've seen have the wrapping stop about a foot below the rub rail and the bottom of the wrapping has styrafoam blocks to provide air circulation. I've used a plastic tarp for the last three seasons and it works well and is much less expensive than the shrink wrap. And it is reusable.
Rick Ulmer '76 25 Mk I Slapshot

I've been shrink wrapping my C & C 29 in Nantucket Mass for 3 years. It really protects the boat from the elements. Things to watch out for however. 1) Mildew. Put plenty of mildew canisters bewlowdecks or you may have a big Clorox job in the spring. 2) If you plan to work on the boat during the winter have a zippered hatch added to the shrink wrap so you can get inside without disturbing the integrity of the shrink wrap.
Good Luck
Paul Waldeck "Second Wind"- C & C 29 Mk II

It's pretty common here in Chicago, althogh we don't do it on our 32. If you shrink wrap, be sure you ventilate properly. Moisture that can't escape turns to mildew "big time." On mild, sunny days, it's pretty warm under a shrink wrap greenhouse.

Good for you Rick.
Shrink wrap contributes a lot of fill to garbage dumps each spring and takes forever to biodegrade.
Richard.