Handwraps as weapons do not appear to be treated as unarmed attacks (e.g., Weapon Focus(Unarmed Strike) is not factored in) and do not display modified damage (e.g. from +1 enhancement bonus or Agile enchantment)... or any damage at all, I guess. The former looks like it just needs the weapon proficiency updated to Unarmed Strike, but I think the second part might require a code change.
My own hack essentially implemented it as a slotless (to allow characters to carry something else in hand like a Dan Bong or shield if they wanted to for some reason) Amulet of Mighty Fists with a separate internal base ability that subtracted the difference in cost. Unfortunately, this implementation no longer presents a separate unmodified unarmed attack profile for when you attack with a kick or something.
Uhg… Yeah… This would be better as a code enhancement using the new system being worked on.
Basically, these are cloth gauntlets with the purpose of allowing enchantments and special materials. But they are intended to only enhance the Unarmed Attacks. Has no actual combat stats of its own.