Bart, if you can believe it, the remains of MY heat shield looked much worse than yours!
I've driven close to 3000 miles across searing desert heat for 10 hours at a stretch with no obvious problems, though. I wonder what this part actually does? Is it like a spleen, which can be removed without causing any bad issues?
OEM roof rack, Thule Xpedition 696 rack, Rancho RS9000 shocks, OME 913 coil springs, 3" lift, American Racing Teflon Chambers wheels, Yokohama Geolandar HT/S G051 tires (275/70/16), Energy Suspension greaseable bushings, steel-braided Kevlar-reinforced brake lines, WeatherTech wind deflectors, Malibu 18w driving lights, Plasma SuperWhite 100w headlights, NGK Iridium plugs, K&N drop-in air filter, Optima Red Top, Psychos2 rear-door subwoofer enclosure w/CDT Audio 10" sub, Blaupunkt subwoofer amp, iPod Video 80GB, Kenwood KVT-617 DVD head unit w/7" motorized touch-screen, Kenwood GPS HD navigation module, Kenwood iPod adapter, Kenwood back-up camera, Sirius radio, Flowmaster Extreme Off-Road muffler (black diamond-plate steel) w/ carbon fiber tip, Ford Taurus OEM cup-holder/coin tray (single-DIN/lower bay), personalized license plate "ORBITAL", 3M window tint, debadged, removed rear seat, custom 'radiation symbol' side magnetic signs, VX Concepts front skid plate