I think it looks sweet but will probably be out of my price range. Plus there is some real doubt over whether the shield really does improve things: http://www.guru3d.com/article/asus-sabertooth-p67-tuf-review/ Would look forward to reading a Bit-tech review though
I don't think the "Thermal Armour" will work very well either. If anything it might even raise the temps as no air will be getting to it! It does look pretty amazing though. I wont be upgrading until next year though when Ivy Bridge comes out
Does it not require a CPU HSF that blows air down on to the board? I can't think of many good quality HSF's that aren't tower coolers
TBH I have not fully read any of the reviews enough to say how the cooling works on it. There must be vents in the "Armour" at strategically positioned points or something to let air get in and about the danger areas I would assume and as you said the HSF may blow air in to these vents. I am guessing here so I am probably way off track LOL
The only good downwards blowing cooler it the Thermaltake DualOrb. It has a removable pannels for the chipset though, so I assume some kind of heatsink/waterblock can be fitted...