Ya, I'm just talking about track days. I'm aware that the bottom of my air filter is only about 8" off the ground on the gutter side and the engine bay opening is perfect for water splash. Thats why I have a heatshield on the exposed side of my filter already. Besides, I don't drive my car in the rain or the winter if I can help it. Thats why I have a Jeep, Range Rover or Yaris.
As for cooling; (again at the track) with the skidplate and engine shroud on; my engine won't cool down at all inbetween runs this time of year even after an hour between runs. Removing the skidplate would at least allow air to actually flow through the engine compartment(by convection if nothing else) and blow onto the block and oil pan while the vehicle is sitting still with the hood up and the engine is not running.