Cleaned the surface with degreaser, then brake cleaner.
Installed with a heat gun and a big socket to roll the butyl onto the surface. Thats more heat than it would see even in 110F summers. No smell, and it's definitely not coming off.
I'm sure it's not as good as the purpose made stuff, but for $15 it does the job better than the disintegrating jute that was on there before. All I wanted was to keep it from rattling and maybe insulate the cabin from the trunk just a bit.
I do agree that it's absolutely not suited for underhood temps. The butyl starts to liquify and drip at those temps.
The speakers were essentially free. Nothing fancy, just something to replace the blown 6x9s in there when I bought the car. Next step is a stereo to power them.