ideas for radiator padding and teflon tape alternatives

I'm replacing my radiator in the DB-1, and found that it has been "padded" with what appears to have been standard window-and-door type stick-on foam insulation. Can't say it didn't work, as the radiator is at least 20 years old, but it's in pretty bad shape. Looks like it hasn't been doing much good for a long time. I was wondering if there is a better product available.

Second question is, what do you guys use instead of teflon tape, for brake lines, and water sensor inserts, etc? I am aware the tape has a risk of pieces breaking off and going places they aren't supposed to, although I've been lucky so far.