1996 400--is it normal to feel alot of heat from the exhaust

i recently purchased a really nice 1996 400 and i was told that the heat from the exhaust shield is normal. You can feel it against your leg while riding at slow speed. This bike runs really great otherwise. Also, does anyone else have a rattling sound[like if something is loose, almost sounds like loose tin somewhere] when you initially take off. . The motor doesn't make any noises at all in neutral which leads me to believe that it is something surrounding it. Any input would be really appreciated.
Thanks Guys and Foremans rule[/b]