Yep.
I've been toying with trying some of those roll-on or paintable heat and noise dissipating coatings. IIRC ceramic stuff. Haven't looked at it recently since I still run a full interior.
I have used the peel and stick fiberglass fabric with a foil outer layer in the past and it worked ok. I installed in on the OEM rad fan motor on my Focus because I had the turbo sandwiched between the block and rad. The red hot turbo was about 1" away from the plastic rad fan motor housing. It worked for a few years, the fan housing didn't melt, but eventually the heat cooked the adhesive and it fell off. In a less severe application, it might work better.
I can tell you in the OEM engineering world, the best heat shielding is simply stainless steel foil, multi-layered, with an air gap between the layers. It's the most effective and long-lasting heat shielding possible. You get all three methods of heat transfer protection, radiative, conductive and convective. You could simply buy some SS foil from an industrial store, crumple it up, stretch it back out, make 2-3 layers, shape it how you want, and mechanically fasten it. Just the poor man's way of creating the multi-layer waffled SS foil shielding.
When I drained it everything looked fine but I haven't driven it yet. If I do have to replace it I might think about doing an AX15 instead of an automatic.
Good. And that's what I'm doing. Got water in mine, it destroyed the clutches (which happens almost instantly, though it lasted for a little while after). I'm not putting a manual in. I'm not a fan of autos.