f done properly, adding wood binding and purfling to the headstock of your guitar can add a wonderful touch of elegance and refinement to your design. Additionally, I feel a bound headstock helps to tie the design of the neck/headstock portion of the guitar together visually with the body since they are both bound in similar ways.
Binding the headstock is another opportunity we have as artists to control our design and craft these elements in order to give the instrument the desired look we have in mind. Of course, there are times when an unbound headstock is just the right touch as well.