I have the 1 gauge Streetwires Ultraflow power cable and I was wondering if I should put some wire loom over it in the engine compartment. This wire can also withstand 221 degrees Fahrenheit-I don't know if that really helps though. Any suggestions?

The wire should be ok, But some loom wouldnt hurt...
My 4awg is fine.. and it has been in there for allmost 6 monthes... but i kept mine ran away from sources of heat...
just be smart about it... and you should be ok

I think by regulations you're supposed to, but who's gonna check ;)