Pain has been more of a disincentive than heat for me. I did two rides last week in 100+ heat. Wasn't too bad. Casual paced group, friends to chatter with and take my mind off the heat. Some of those folks had ridden almost every day of July, so my riding two days was no big deal. One of those fellows is in his early 70s. Several 50+ folks I know are riding fast group rides and even crits in this heat. They're a lot tougher than I am.
But the shoulder and neck pain from the May injury still pesters me. It's not bad on the indoor trainer but once I add in the lumpy roads it's a chore to finish 20 miles without stopping, and even 30-40 miles with a few stops.