Why Does This S**T Happen To ME!!!!!

Hoods are easier to find than good front fenders. At least they don't rot away the way fenders do. I once saw a 70 chrysler 300 burn up at a traffic light, after that I always carry a fire extinguisher in my old cars. Sounds like you got lucky.

If your under hood clearance is that low have you considered any of the spray on heat blocking coatings? Saw a picture of the aftermath of an interior fire in a 30's-40's hotrod that had it on all panels. From the outside you couldn't tell there had been a fire, on the inside everything was toasted.