When installing the dual flexalite fans/shroud unit read up and seem to recall the optimal distance for the fan blade to radiator was a 3/4" gap, which for that unit entailed fabricating some brackets with a stand off and installing a thicker rubber seal around the shroud.
As Larry says the shroud comes into its own at low speed (presuming it is sealed to the radiator) as it forces the fans to pull air through the rad and prevents short circuiting. At high speed (sustained 150+ mph) it can be a detriment as the shroud can restrict air flow as has been discussed previously. Johnny Woods encountered it and overcame it with a neat system of flaps that were forced open by the air pressure at high speed.
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