Bluethunder,
You may still consider the 120 t-stat to help get your temps up sooner. The reason I switched to the 120 was the same as yours. After I added the blower I went from 210 to 225 on oil for cruise and 235 to 250 at WOT. The 120 brought it down to 215 and 240. Both before and after the water was temps were 140 and 150 at WOT. The lower block temps just acted as a cooler for the oil.

Also you may want to check for a collapsing main water inlet hose or air leak on the suction side.

We'll see how it goes with no tstat for now. For now I am really enjoying no air pocket at the top of the engine when trying to add antifreeze. It is a real ***** to add antifreeze with my closed cooling when a tstat is in place.

I have been working this problem for years, as I said earlier, everything has been replaced at least once and still had the problem. You are the first person Baddog, other than me, that I have heard state engine coolant temp has a direct impact on oil temp. I wish I'd known that three years ago, I'd have a lot more money in the bank from not replacing shot bearings

BT