I was thinking about this the other day. If it does cool better with out them why did GM put them on in the first place? I wonder if it works like the fan shroud, making the air move to where it's needed. If you have ever run without a shroud you now what I mean. The air will go right past the engine instead of begin forced onto it.
By removing the inner fenders I wonder if the air will leave the engine bay before it has a chance to cool the back half?
Air like water will take the path of lest Resistance.
Anyway I don't know if any of this is true or not, just thinking out loud.