I have an Izula with a paracord wrap. I bought mine before ESEE offered the version with the scales. I used it last year to butcher a cow in the field (along with a few other knives/tools). Blood, bits of guts, and various fluids got all over it. I did remember thinking that the wrap offered a better grip, due to the texture, especially when I got the fluid from the kneecap all over my hand (I don't know what it is, but it is some of the slipperiest fluid I have EVER felt). The wrap obviously smelled like dead cow afterwards, and as I was lazy (I know, I know) I simply soaked the entire knife in a bowl along with some Tide detergent. After about an hour, I scrubbed the paracord wrap with an old toothbrush. Yes, I did not unwrap the cord, I was that tired from butchering the cow in 90 degree weather.
I did have to resharpen the edge, and sand off some rust spots with 2000 grit sand paper (the Izula is 1095 carbon steel for anyone unfamiliar) after the wrap had dried. The cord is still on there right now, and is fine. I don't plan on buying scales for this Izula because I'm a little fond of it the way it is, but if I buy another knife, I would definitely get a real handle. Hope that answered all your questions.