One wrinkle of the Magnaflow install is that the new mufflers feature integral tips, while the stock mufflers outlets are divorced from the valance-mounted tips to allow for cooling during long track sessions. That means removing the stock tips from the valance to make room for the new exhaust.
I wonder if the real reason for the metal (heat shields) in the valance was to insulate the valance from the tip heat by allowing airflow between the tips and heat shield to prevent heat damage to the valance? If that is the case, the valance could be destroyed by the heat from the new exhaust tips if the heat shields were removed.