A couple of things I wanted to add--
1. Brad, I think your BK jacket probably holds heat in a little bit better than my shroud, but the trade off is the plastic in the insulation that could catch fire and melt. I guess that's a bit less of a concern with an electric stove, but still, I'd be a little concerned... Be careful! My BK pictured on the right uses a similar product, foam and foil, for the lid. I'm pretty comfortable with using that stuff as a lid, but I wasn't 100% comfortable with using it along the sides, so close to the flame. I also have a pet and so I worry about toxic fumes. I do think your set up is fine and doubt you'd gain much, if anything, by switching to my shroud/shell set-up, except perhaps for a little extra safety.
2. I have thought about using my foam/foil along the upper half, or two-thirds of the shroud. This would add more insulation while still keeping it well away from the flame/heat source. But again, in the event that some flames take hold during a bad boil over, I'd be really worried, so at this time, I am foregoing that idea.
3. I really think everybody should have shrouds like this, even the people with huge outdoor propane burners. I mean, really. Who doesn't want to save on fuel costs? Based on how effective it is in my kitchen, I'd bet this would allow folks to squeeze out at least an extra batch from a tank of propane. It'd pay for itself quickly. Why more folks don't take the time to make one is beyond me (a half an hour in a dedicated shop with supplies on hand, maybe two or three hours if you include the trip to HD and the time it takes to gather the couple of tools you need) . It is definitely a big energy saver, as evidenced by the fact that it takes the same heat needed to almost boil 2 gallons, and allows me to boil 5. What's not to love about that energy savings?
4. One caution is that it gets a little finnicky around the handles. They tend to catch and try to carry the shroud with them. If you aren't careful around the handles, I could envision a situation where you lift a heavy pot of hot liquid, only to discover that the shroud isn't letting go... forcing you to have to decide whether you want to crush the shroud, or try crazy hand-gymnastics to force it off the kettle... while holding near-boiling wort. So my caution here is to be sure it slides off cleanly. I have an exhaust fan above my stove that prevents me from lifting the 5 gal BK straight up. So I have to pull it off the stove and get the shroud to fall to the ground to release it. It works, but the little snag/hang up on a handle gets a little bit dicey, so design well around that area.
5. I wonder how else I could improve on the design....