Somewhere there is information posted about the proper operating temperature for small block Ford motors as determined by Ford engineers. It may be on the Tigers United website.
Anyway, the conclusion is that the motors operate best in the 190 to 205 degree F range. So the recommended thermostat really is the 180 or 185 degree F (whichever one it is that is in that range) for both summer and winter driving. Remember that the opening temperature rating is when it starts to open, not is fully open. Its another 10-15 degrees F from rated opening temp to fully open, or so I have read.
I put the higher temp thermostat in and I did noticed the motor seemed to like it better. Ran smoother, and seemed more responsive. Now I do not panic when the temp gauge reaches 200 degrees F, knowing that it is actually in the sweet spot zone, not getting to the danger zone. I know it is supposed to be there and it is good that it is there. As for over heating, as they say if it is not spitting out coolant, (with the overflow tank half full or so when cold) it is not over heating.
Also the higher temp thermostat seems to do a better job of managing the operating temp range. It actually seemed to keep the temps from going higher than the 160 F thermostat did, for reasons I do not understand.
I say give the higher temp thermostat a try and see if you get the same results I have gotten.
Cheers, Gene
PS: As I understand it, one of the worst things you can do is run the car without any thermostat. The thermostat serves as a flow restrictor of sort and that slows the water passing through the block. That is a good thing because it allows each unit volume of coolant to absorb more heat as it passes through the motor. Also, water is better than antifreeze mixtures. Although the antifreeze mixture has a higher boiling point, it is less efficient than water when it comes to absorbing heat. And with 13 pounds of pressure, you get a satisfactorily high boiling point with water alone. Whether water wetter or equivalent further helps seems a point of unresolved debate.