Thanks everyone for the discussion! Very thought provoking.
The heat spreaders have probably saved more sticks of RAM from ESD and physical damage vs actual heat-induced component failures.
I like what sm625 said.
In the end, it seems like a wash from a "do I gain any functional heat dissipation" perspective. Since I'm not overclocking, I don't stand to gain anything from them, but also I don't stand to loose anything with them, heat dissipation wise (again, running normal).
You guys make a great point about heat spreaders adding physical protections, such as protection from ESD, physical damage, and also DUST! While not perfect protection, it's better than nothing. I handle bare sticks very carefully (edge grip only), versus just grabbing the shielded sticks without worry.
Thus the name "heat spreader" seems to be a secondary function, and I would term them more as "memory shields" or something along those lines. Although, no one would know what I'm talking about if I started calling them that, so I'll stick to "heat spreaders" for now.
Right now I'm debating a Mushkin RAM purchase for a new server, and since there's only a couple dollars difference, I'll be grabbing the ones with Memory Shields.