On a Robert's Wrapped rod, the guides spiral around the rod, so the line never touches the rod even when it is bent. Spinning rods don't have this problem, but since bait casting rods have the reel on top of the rod, when you fight a fish the rod bends and the line rubs against the rod itself.
This system has been around for a long time and some people really like it. I have no problems with it, but I can not tell that it really helps. I have never had a problem with the line rubbing against the rod while fighting a fish - maybe I just don't catch fish big enough to be a problem!
The Robert's Wrap is supposed to make the line flow more smoothly, too, but I can't really tell. I use the Millennium rod for pitching and it works well. It looks a little strange, but I like it fine. I probalby would not pay extra for the system when buying a rod, though.
Try out a fishing rod with Robert's Wrapped guides and see if you like it. That is the real test.