1.I personally am leaning toward keeping the leaves on mine because they fold up like fans,the only probs I see with this are that there needs to be enough excess heat rising to keep the leaves warm and it can't be a place where heat will be lost.Knowing that heat will rise and that I want some light to get to the leaves means the wrapping material will be more if a challenge and also will the leaves need more air exchange?I think in any case the leaves will not last anyway and the best answer maybe that keeping the leaves on may create more problems down the road,so maybe the best plan is to leave the spear and one other and let the palm decide.
2.Ithink the weather will decide when to wrap,when temps are forecast to drop below 20F,just make sure your not wrapping up a wet palm,it will need to be prepared at least a few days ahead of the weather,I figure on mine if I start to see any damage and temps are headed down anyway, its probably not going to grow much more anyway,time to shut it down.
3,As far as wrapping I am using a cotton based house insulation I pulled from a job,I think any house insulation would work,wrap some burlap first around the heating cable wrapped trunk,then insulation then plastic,I'm going to put some small holes in it to let air and moisture out and maybe use a white garbage bag over that since my palms are alittle smaller than your palm.I also wonder if a little tube going in and bending over to let moisture and air out would help but I don't quite have that one worked out yet,I hope some of this helps,post pics of your protection,I will do same.Oh and b.t.w. I am using ropelights for heat on mine.

I would bunch the fronds up. Palms draw energy from their fronds. They probably won't survive winter, but at least they'll provide energy throughout the winter.

I would cover when nighttime temps start dropping to the low 20s. As far as insulating material, straw works well.

He will be wrapping though,so straw would be a little awkward

sounds like a good plan, and when this happens, i will post pics!

a couple questions in regards to your post:

you say to use burlap, then insulation, then plastic and that you were thinking of putting holes in the plastic to allow moisture to get and for O2 exchange. wouldnt that also allow moisture to get in?

ive never used a heating cable, could you give me some advice on this? do i put it into direct contat with the trunk or? what is a good temp for it to come on at?

thanks so much for taking the time to answer, and as soon as it gets that cold (still should be at least another month and a half), i will post pics!

good luck

My thinking is to have a large white trash bag over the whole dealeo there so as not to let rain get directly on the palm protection and to also stagger the holes so that as I wrap the first layer I do a little pokey here and there,thinking that warmer air and moisture should transfer out.One of the nice things about adding heat is you should be able to keep humidity in check somewhat.The trick as I see it is having it set up so that light gets in but not letting the top be a place where cold air gets in,or that you don't bake your palm,no matter how good you make you protection I think you should still have the top part be so you can open it during warmer and DRY!weather,I think if highs are going to be in the 50s and lows around freezing that the top should be opened so they don't bake,that will probaly be much more often for you.
You might want to test your cables and see how warm they get,I know my ropelights max hit 95F inside my house wrapped together so they should not burn my plant.
As far as the thermostat setting,I think between 30-35F should do just fine!Good luck!I will post pics as well and I will probably being doing mine first.