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Neil Young was right.
It has taken me close to 55 years to fully realize this. I recently spent a weekend replacing all four rotors and calipers and both rear leaf springs. While doing this I realized how extensive the rust problem is in the belly of my beast. I've just removed my exhaust shield as it was rusted into at least four separate pieces with some resting on top of the exhaust pipe.
Question: I don't plan to haul ice or go barefoot in the bed, and can't imagine that the shield really blocked a tremendous amount of radiant heat. Is there any really good reason to replace this?