I have a radial brake on my .340 Weatherby. I use electrical tape on it, and it blows off when firing the rifle. I have not noticed any effect on the shot placement, but I haven't shot past 300 yards with it.
I have tried barrel cots in the past, but don't find them as durable as the electrical tape. The barrel cots get torn off when moving through the brush, especially when the rifle is slung over the shoulder (with the barrel pointing up). The brush really seems to catch the end of the barrel, and rips the barrel cot off, but the electrical tape is unaffected. After firing, I notice some small pieces of the tape remain on the exterior of the brake/barrel, but they are easily removed scraping with my fingernail, or some Hoppes #9 when I clean my rifle.