I would. Hampers take so much work and always end up costing a fortune, but most people I've given them to just unwrap it and then don't even take everything out to see what's in there, so at least wrapping a few bits would make the opening last a bit longer.
I had the same dilemma, I've done beauty hampers for my teenage nieces but wanted to wrap all the bits, which doesn't look so nice in a hamper so instead of a hamper I've wrapped them up and put them in a giant cracker these were £1.99 each from the card factory and look lovely. Obviously not quite as posh as a hamper but definitely novel.
I did a hamper for my dad & step mum. I didn't wrap the individual things because nothing was very expensive (things like nice crisps, biscuits, tea bags!), but I might have done if there were things like perfume etc
I would either wrap all of the items, or none of them (and hope they don't open the perfume first leading to unreasonably high expectations with the rest of the gifts!). MrsCrimbo, do you mind saying what exactly you have put in those crackers? They look lovely, and am trying to gauge how much would fit in them.