For myself, I have them on most of my leverguns. My 73 and 92, and my shotgun have my alias on it, somewhat giving it an ID. We have a shotgun only stage, at least once per match someone grabs the wrong Stoeger coach gun. They all look the same. On my rifle, I have them made to have a spacer in it, making it a shotgun butt. Doesn't do anything for recoil, (as someone else said, a 44-40 don't have any recoil) but it does add an inch or so of LOP, which I like as I'm kind of a big galoot with ape arms.
On my big rifles, I have the same thing done, but I have the shell loops added.
The lever wraps have always been thrown in on the deal, so I put them on. I can't say they do a whole lot, I dunno, don't pay them no mind.