Heat shield: Important, or just for giggles?

[etlsport]

so where is this heat shield? i was under my vx looking for it because ive got some crazy rattling going on under my vx.. didnt really see what i was looking for.. i did see a plate that looked kind of loose.. had TOD stamped on it, one of the clamps holding that down was loose so i pulled it off and put a new one on... anyone have photos of the heat sheild in question?

[PHO2GR4]

It's a two-piece, rusty, rattling wrap-around cover for part of the exhaust pipe. Passenger side of the engine compartment.