The hood insulation is really there for sound. When you take that out you do hear the engine more. DOnt worry about your paint...I have gone 1.5 yearsa with no problem and I dont see a problem arising. The heat soak is a pain. I will lose to an explorer if it gets too hot under there...hmm we can try to duct some air in from the fender well or we can just make a shield to keep the heat from the trans moving on up.
Guys,How much is that MIKS heatshield?