Yep!
I always have an exactor wheel going when I feel strongly about my key horse coming in first.
One thing that I try and do though is not wheel the WHOLE field if I can avoid it. I try to balance the amount I have to spend with the expected return.
IE: I saw a guy yesterday do a $2 ex wheel with the field.
1/2,3,4,5,6,7,8,9 - $16 bet.
The #1 horse goes off at 3-5.
That means that you can lose money with a win if the second horse is low - semi-low odds. Just keep in mind what the payout will be with your horse and bet accordingly (watch the exactor payout boards if you are able)
In this case I may bump my Ex bet to $10 and only wheel 4 horses.