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On top of all the other "uses" for the underhood liner, I have also heard it is designed to "melt" and encase the engine if it ever catches on fire to act as a fire retardant...
I have a carbon fiber hood on my car. Thank god its direct bolt on. I actually took the lining off the factory red hoood and put it on my carbon fiber hood. I wouldnt take it off.
I didn't like the way mine looked either, so I took it off. I have an 03. The paint faided a little bit, but no bubbles. The SRT-4s don't have any right?
Except the SRT's have the functional hood scoop as is, so they already have a little more cooling under the hood...we dont. Not saying that makes a difference either way, or if ther cover even does anything, its just another factor to consider.
Its up to ya whatever you wanna do . Ive had mine off for over a yr now and my new oem hood didnt come with one . Good luck with whatever choice you go with.