Of course. I have a 195 F thermostat. I verified opening temp when I installed it 2 summers ago. Maybe the thermostat is stuck. I'll replace it and see.
Do you use a lower temp thermostat? I know many, including cliff ruggles, insist on a 195F thermostat to ensure a proper A/F mix.
OK, you did not state you had a 195 T-stat. Yes it is possible that it may be hanging open. It is also possible your gauge may not be reading correctly.
Before pulling the T-stat, you might consider one of the laser temperature guns sold at any auto parts store. They are fairly accurate and you can shoot at different points on the cooling system. My '73 Plymouth temp gauge constantly indicates the engine is near to a boil over in stop and go traffic. Has a huge radiator and the car was never puking any coolant into the overflow - which it should have. Laser temp gun proved my coolant temp was actually very good and my gauge was the problem.
T-stat choice is in my book one's preference or opinion. I read that your oil needs to reach a certain temp to evaporate any moisture in the oil. Hmmm. Might be a case for that if you do short trips around town and don't run the car hard. The 195 T-stat is also mandatory if you live in the snow belt if you want your heater to blow hot air to keep you warm or defrost the ice & snow off your windows.
Never heard the A/F mixture argument - new one on me. Seeing there is an exhaust crossover that goes under the carb and is typically left unblocked, there is a lot of unregulated heat that never sees coolant and no doubt would change A/F ratios as exhaust temps constantly rise and fall based on the heat of the day, under hood temps, and the heavy right foot that exercises combustion heat which is whisked away out the exhaust and its crossover under the carb.
A cooler running engine can lessen the chance for detonation or engine pinging, allows more timing advance which can equate to addition power, and can allow for a richer fuel mixture which also can equate to additional power.
Now if you are talking newer and contemporary autos and trucks, that is a whole nother ball game. Todays cars are engineered and designed to run efficiently at hotter temps and it also reduces emissions. But they also use a lot of aluminum which absorbs and dissipates engine heat. Cast iron holds heat.
My opinion - I like and use the 160 T-stat just to keep engine temps down - almost in the range you shared which in my experience would be perfect numbers. Nice and cool going down the road, 180 in stop & go traffic without worry of boil over, cooler oil temps, and when I open the engine up I am not looking to listen if the engine is pinging because it is heat soaked. But, with any high performance engine/car, I don't baby it and burning rubber and wide open throttle blasts are my joys - so I want a cooling system that works and takes all the heat I put into the engine. :thumbsup: