Eric,
Dont believe in shrinking hammers. They do next to nothing but destroy the metal.
If you heat shrink metal all you need to do is heat the metal enough so that when water is applied it steams.
Cherry red or blue is way to hot!!
Before you start shrinking metal, make sure you have the surrounding metal back in place. If your panel feels like a bag of walnuts then its NOT ready for shrinking. The metal should be as close originaly contours as possible.
A shrinking disc is the easiest and safest method of shrinking. A shrinking disc ONLY shrinks whats needs to be shrunk. A torch will shrink anything in its path including metal that doesnt need to be shrunk.
If you look throu my link in the sig you will find several metal finishing albums that show how to correct metal damage using nothing but hammers/dollies and a shrinking disc...Eric