Even if you... sealed off the engine bay as thoroughly as the uber-aero mods on here. In the winter there is going to be enough air flowing in through various places to keep the bay from actually getting warm.
What you want is for the engine bay to remain removed from the heat exchange while its parked. The hood "blanket" idea is beneficial if you're going to drive and then park it and drive it again within 1-2 hours.
Otherwise its not going to be very helpful. You can't completely seal up either the engine bay or the engine itself. Doing either of those is going to cause the ICE to overheat at any temperature above freezing, at which point your rad fans kick on and start sucking more juice than you were losing through heat exchange out of the block.
If you want the car to passively(without block heating) warm up quicker I can't remember who it was that suggested it but they had the idea of putting a thermos in parrallel with their radiator and a valve and then choosing which the pumps used. So when the engine is cold you use the thermos so you can cycle the coolant through the system to get it all warm get the block warm and then shift it to the radiator to keep the engine in operating temperatures. sealing the hood and putting heat reflective components will help keep the engine warmer on the go... but a slight breeze in winter temps can provide a very very large heat sink.
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