The primary reason to wrap is to reduce the cook time. You can always wait out the stall period, but that can add several hours to your cook, especially if the piece of meat is large like a full pork butt or beef brisket.
If you start your cook early enough in the morning and plan for a late dinner, you might be able to wait out the stall. We normally eat an early dinner (around 5:00 pm), so even if I start to cook an 8# pork butt at 6:00 am, I need to wrap it at 160F if I want to pull it off at 205F by 4:00 pm so it can rest an hour before dinner. However, I normally cook at 225 F at grate level. I might need to set the controller at 240-250F to achieve the cook temp. I want.
Rather than wrapping, you can always do the first few hours of your cook at 225-250F and then bump up the temperature to 300-325F when you get close to the stall. That increases the amount of heat available to the cook so you will power right through the stall. There are always multiple ways of doing things. Most of the smoke is absorbed by the protein during the first few hours of the cook. Increasing temperature later in the cook will have very little affect on the smoke flavor.
If you are doing pulled pork, you might want the extra juices that wrapping in foil will capture. If you plan on slicing the pork, then it might not make any difference. Wrapping in butcher paper traps some moisture, but not quite as much as foil.
I like putting a pork butt in a foil pan and sealing the top with foil rather than wrapping tightly in foil. As you get close to finishing temperature, the butt will produce a lot of gelatin and fat. If you wrap tightly, those components cannot escape. If they have room inside a larger pan, the gelatin and fat will collect on the bottom of the pan. Then you can include as much or as little as you wish in the final product.