Update: Went with the 3" fire-rated 94HF1 egg crate foam from McMaster Carr.
http://www.mcmaster.com/#sound-absorbing-foam/=gnbcp4 Item number is 9710T66. Note that is the 54" x 54" sheet. Going to the 3" foam in the 97" length takes you to a diff fire rating (Cal 117). I tried to get a comparison as I feel good about UL 94, but ultimately couldn't find anything meaningful. End of story is I went with what I felt was the safer play.
I also wanted to try to improve upon the adhesion of the foam so that it wouldn't fall off again. Part of the falling off was likely due to the degradation of the foam, but I think the limited glue surface area was a problem as well. As you can see in this picture, the foam spanned large areas and was glued to some structural ribs:
I decided to cut my replacement foam out around those ribs to let the foam sit directly on the large flat surfaces for better adherence. This took a little extra work, but I feel better about it. Here's the finished foam, waiting to be installed:
You see I had to make the foam out of two pieces because the 54" x 54" foam sheet couldn't span the 63" width needed. Frankly it worked out better imo because it was easier to work with for cuts and such. If you orient things just right, one 54" x 54" sheet will give you the underside and two ends of the decklid for about $100. The quote I got from Four Winns for who-knows-what replacement was closer to $215 for the same coverage.
Here are the end pieces:
In case you are wondering how I determined the shape to cut...I taped a piece of heavy (kraft) paper to one half of the engine OPENING so that it basically formed a cover over that half. I then took a razor and, using the inside edge fiberglass as a guide, I cut out the paper to the exact shape of the opening. Here's the template:
The last part of this equation is adhesion. I already have some 3M Super 77 and the 3M 74 Foamfast spray adhesives on hand. However, I wasn't quite sure about the flammability ratiing of those -- even after reading the 3M data sheets. Called 3M today and it seems I'll be OK with either the 74 or the 80, which has an even higher temp rating. Since the 74 can handle max 180 deg F, I think I'm OK with that. If someone wants to chime in and tell me that the engine bays get that hot, please do so. I can't see how they would...
Now that I have my adhesive answer, I'll install soon and post pics of the final result.