stats tend to make the exhaust headers run hot. if you have s.s headers like cmi for example, the constant expansion and contraction is not good for them.

assuming my water pressure is an issue, does this explain condensation in the oil, or just lack of heat build up?
as for this, no not psi, oil temp. remember water bolis @212 and steams @215. so no oil stat , expect some condensation

Dude - get some guages.

Can you get your hands on a Temp. Gun and shoot the oil filter after a hard run?

great idea, My brother in law has a temp gun he uses for Powdercoating,
thanks for everyone's help,

BTW Monstaa, I am running CMI's , My plan was to run the t-stats until the lake water temps rises & then pull them out.

You need gauges!!

Email me a list and I will help you out!!

[email protected]

Kirk

If you want some gauges for testing and set-up, I think have some take-outs of water pressure and oil temp you can have for $15 ea. I agree on the need for oil thermostats, it is difficult to get oil temp high enough for long enough to keep the condensation out w/o extended high RPM runs.
In the Mid-West, the cool evenvings are likely adding condensation inside the engine every night after boating.

I'm not running t-stats either. I was told there was a down side to running them, so I've been trying to get rpms up each time out.

What pressure are these valves? 30lbs?

yes,

This is what I'm running for water pressure. $30 and a little modification and ten times better that the Merc platsic valve. All bronze.
16lbs at 3800 rpm and 20lbs at wot. The installed pic is before I modifed it.