it's not a damn heatshield. if you actually owned a V2 and took a look at it you'd notice the smaller piping does not extend the length of the intake. there is a place where the two overlap but at the filter end of the intake the piping is significantly larger so if it actually was a heatshield then it would be absolutely useless.

the V2 only performs slightly better than the original CAI because the air flowing into it resonates at two different sets of frequencies instead of just one. this affects airflow (and thus horsepower) only slightly because having the air resonate just removes some of the turbulence.

P.S. Don't buy the V2, there's barely any difference and if you already have the original then it's not worth your money as previously stated