I, too, have a civic that is going to get a belly pan soon, I think I'm going to cover the exhaust in the places where it's recessed enough to not melt the coroplast I'm using (1") away as I've seen so far... As for heat, I'm going to cut a couple of holes in the pan and let the venturi effect work it's stuff to draw hot air out. You could also make a few small scoops in the pan facing forward to move some air over the exhaust and take that hot air away. Drag of a small (1-2" wide?) scoop would certainly be negligible and the effect would be enough at slow highway speeds that you wouldn't have to worry about heat buildup.
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