As far as shielding, I've never used a insulated type shield. I've used a factory style tin, or just made one out of a piece of tin with a 90 degree bend and secured it to the outer starter bolt, either work in my experience.
I would guess the insulation would hold heat in as well as shield it. With a tin shield the air can still carry away some heat as well as shield the motor from the exhaust radiant heat.
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Brad Yost
1973 T/A (SOLD)
2005 GTO
1984 Grand Prix
100% Pontiacs in my driveway!!! What's in your driveway?
If you don't take some of the RACETRACK home with you, Ya got cheated 
  
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