I'll chime in and agree with most of what has been posted. I bought a single M33 handguard and it matches up will with an original carbine type handguard half on the top. Since a) they aren't suitable for mounting optics and b) I can't think of anything else you could mount on top, I only bought half of the system. I really wish they had made them to M4 dimensions as I like the larger handguard.
With respects to the heatshield, come on now. Aluminum is aluminum. They are just as good as any other single shield handguard, which is everything but the M4. I've heard a lot of stories that under heavy fire, the double heat shielding of the M4 guards is actually a problem as it retains the barrel heat and can cause overheating. I can't say I've experienced that with any handguard as I don't have the $ to waste that much ammo in semi-auto and I don't have the $$$$ for an M-16.
The fobus/samco handguards seem to be quite adequate for vertical grips and flashlights. They fit very tightly and modern plastics are tough enough to take a lot of stress. I've not handled the M44 4-sided handguards but they will probably work well for anything but optics. From the pics, they look pretty ugly, but at 1/3 the cost of a RAS, I'm sure they will fit many a budget.