the heat shield on my sled ratles quite a bit and I was wondering what harm it will do if I remove it completely or should I get some big clamps and tighten the heat shield on.

Clamp it back down. Not only does it heep the heat off the hood, it keeps the inside of the pipe hot. I have seen tests where the shield was taken off and the pipe runs cooler causing performance loss.

the heat shield keeps the heat in the pipr to make power.i would fix it or spend the money and ceramic coat it

Yeah, you definately want some insulation on your pipes for best performance.

Check out this link for Fireball Coatings (http://www.fireballcoatings.com)
They are not too far away from you, and seem to do good work.