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I always kind of thought of it like the adhesive book covers we used to use in school - like putting a second skin on your car. Is that accurate?
(my friend wrapped his 428i recently and was like, "Lol I'll just peel it off when I sell it")
Pretty much, also helps protecting the paint. There's also so many cool colors/effect you can get, that paint can't do and it's cheaper.
It depends on how much you want done. My entire car was wrapped for 2900; I believe the chrome delete for window trim and front grille was 300 - 400 (?) which means it was 2500 - 2600 without that.
If you're in the LA or OC area, hit me up; I really recommend the guy who did my car because he does cars for high profile companies.
If you do it yourself for the vinyl they're around 200-500 depending what color and how much you get. If you go to a shop for the whole car it's any from 1500 to 3000.