Part of engine cooling is to direct the air THROUGH the radiator, not AROUND IT...
Shroud is important. When set up properly, the shroud directs and helps the fan PULL the air through the radiator. You have to seal the gaps so the air does not go around the radiator, but through it.
Another part of the shroud set up is how much overlap the fan and shroud have. One design spec for engine cooling is called FOOS (Fan Out Of Shroud). If the fan is too deep or too shallow into the shroud, it looses some of it's efficiency. Start at 50% FOOS (half the depth of the fan is overlapped by the shroud) and go from there. Usually you don't want more than 20% either side of halfway in at the most (30% to 70%)...
Consider the shroud as a funnel to direct the air through the radiator and fan...