I think the confusion here is in regards to carbon fiber itself... and carbon fiber as we normally see in finished form (i.e. laminated with epoxy). Carbon fiber itself in raw form or raw weave is a good electrical and thermal conductor. Yes... the articles (one listed above and others I didn't list) mention this, they also mention carbon fiber used as an insulation material. The one above I think mentiones it used as a heat insulation in furnaces... another hitco.com mentiones it used as a heat shielding and insulating material in satellites. The insulating properties, I belive, comes from the blend of epoxy resin used while the carbon weave is really used as a form that is stable up to a very high temperature (so the shield doesn't disintegrate due to heat stress). Anyway, I never planned on making a full carbon shield or intake pipe. The pipe would most likely consist of at least two layers of fiberglass and at least two layers of carbon on the outside. The heat shield would consist of a Lexan (or other brand Polycarbonate) core wrapped with carbon.
It is possible to use sheet metal to make a decent heat shield... it just takes some time to make a template... a sheet metal shop can have it cut and bent according to plans as long as you give them all the dimensions and angles.