I have seen many Roadsters that have no heatshield over in inlet manifold.. Is this sinister or simply to allow for an after market exhuast system? Also some seem to have no sensor on the manifold. (12/99)

I assume you mean exhaust manifold. Yes, usually because non-standard headers have bee fitted. Sometimes because the owner thought it looked better. Sometimes because the stock heat shield fell to bits.

The oxygen sensor on the exhaust is required. The ECU uses it to balance fuel and air unless the it's in open loop mode (Wide Open Throttle). The sensor must have been moved back in the system, in which case a four wire sensor should have been fitted to allow it to be heated electrically during warm up.

BTW If any of that was bollocks then I apologise and await rigourous correction by the assembled throng! (12/99)

They remove them for aftermarket exhausts. Probe then may move further under car. (12/99)
The Heat Shield does two things; Protect the bonnet/other components from excessive heat. Reflect heat back onto the manifold getting the operating temperature up quicker. This is to improve emissions. As previously stated, a Cat is most efficient >200 Celsius. (2/00)