It's been 15 years ago; but we used to use 18" roll galv 26ga metal, rolled down the valley, and it wasn't really an exposed metal valley, but it wad there. Problem is, 18", minus atleast 1" of each side, your only 6" on either side, which probably isn't enough to do much. Peel and stick, 24", has the advantage of sealing the nails too, where metal didn't. We never used alum or preformed valleys, back when I was doing shingle roofed apartments.
When I redid my roof, it was peel and stick and weave. Note; my roof is a 4 in 12, no snow load, but wind zone of like 130mph (I pulled that out of my butt, it might be 110 mph?)