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I 2nd this question, as I am asking the same one myself. I live in a very HOT area (Vacaville, CA) and I am thinking I should consider a stat at say 180 or so. Plus, I hear that I need to have the fans reset to come on earlier, but does that require a chip?
I wouldn't worry about it, especially considering your in Texas.
The only reason IMO to go with the 180 is if you drive the car in winter (cold climate)
and want heat. You'll probably want to install a fan switch with the thermostat.
There is no drawback though some will argue that it promotes bearing wear and does not provide more HP. However, I've noticed that my track times and hp at launch are significantly better when I can launch at even 170 deg vs say over 200 deg coolant temp.
Install the 160 deg stat and a HyperTech aux fan sw after you remove the plug between #1 & #3 plugs (although getting the plug out is an issue). Then wire the aux fan sw to the grn/wht control wire of the main fan sw (located on the inner fender below the brake booster).
I run a 160 deg stat and aux fan sw year round here in SE NY. Last Christmass I drove to/from Akron, OH in 20 deg weather with coolant at 155deg and had plenty of heat (and HP too).
In 90+ deg weather with the A/C on your L98 will likely hover around 200 deg in traffic and around 180 deg on the highway.
I'll add one thing. Be very careful removing the thermostat housing bolts. One of mine was coroded pretty badly, and I ended up breaking it off :mad
I had to tear the whole thing down 'till I could remove the intake and get it helicoiled!
I did learn a bunch about the TPI setup. The hard way!
In the first place a 160 stat will NOT allow lower operating temps in the situations where your coolant now is above the opening temperature of the factory 180 thermostat. The 160 stat will just be fully open sooner and the coolant temperature will be the exact same as with the factory stat. And when the air temp is cool enough so that the cooling system can get rid of heat at a higher rate so the 160 stat does maintain 160, then your engine will experience more wear and its hp will be lowered, fuel consumption will be higher and the oil will not evaporate condensed water as fast, the oil will make sludge. Not only does theory predict this, but actual engine operation proves it. Continental motors published their tests with some 25 hp engines run at various temps and they measured lower hp , higher fuel consumption, more cylinder bore wear after teardown with decreasing coolant temperatures. 160 F is too low a temperature to run your engine at and if it was better, then why hasn't GM put 160 stats in ANY car they have ever manufactured? They haven't. Your C4 was designed to operate at 180 and the radiator is too small to get rid of heat fast enough to maintain 160 except in the winter time. You asked for opinions, this is mine.
I drive an 87 coupe every day and my coolant temps are kept from soaring finally when I installed a Stewart water pump which pumps 41% more coolant. I had previously installed an manual switch to force the fan on when I knew the temp would soar. In 99 F air at a stoplight, I experience only 200 F coolant temps which go down to the 195 stat temp when I get underway. I also cleaned out my radiator.
I agree with jfb. Everyone I have read that has installed a 160* thermostat still runs well above 160. The radiator needs time to cool the coolant before it is returned to the engine and running a lower thermostat in such a small radiator will not make it run cooler. I am running a 180* thermostat and my highway temps are around 175 to 180 and traffic is about 210 with the AC on. Keeping the radiator clean inside and out will keep the car running cooler. My temps dropped almost 20* when I cleaned out all of the garbage. Having the aux fan come on sooner is a good idea for keeping is cooler in stop and go traffic.
I disagree with the part about moisture not being removed from crankcase w/ 160 tstat. The coolant temp will always be lower than the oil temp due to no oil cooler installed. I run a 160 tstat but see consistent oil temps of 212 and above after driving maybe 20 minutes or so. It is the oil temp that is key to aiding in boiling off or evaporating out moisture from the crankcase and internals, not the coolant temp. And in reality, any oil temp consistently over 180F will effectively remove moisture-- this is the benchmark moisture-removal temp used by aircraft engine manufacturers Continental as you cited and also Lycoming. Of course sludge buildup from moisture non-removal will always be a factor if you just don't drive it long enough to get the temps up and keep them there for a bit, i.e. the old waring against always making short trips and not letting a vehicle get up to operating temp and stay there for a bit. As for running rich and closed loop debate, this does have meaning for the older L98's vs. newer L98's and the LT1/4. I am now operating on fuzzy memory but I beleive that the older L98's don't go into closed loop until coolant temp of 170F or so? If so then 160 tstat can cause rich mixture and other problems in those motors obviously. But the newer L98's and definitely the LT1/4 go into closed loop very early either 93 F or 137F coolant temp can't remember which right now, so these motors will be in closed loop and deriving their mixture decision info from either the Mass Air Flow and O2's (LT1/4) or the Speed Density method even if the coolant temp hovers around 160 - 180 consistently.
On average in the summer weather, my LT1 only runs about 10 -12 degrees cooler on the 160 tstat than it did with the OEM 180, mainly because the way I have my fans programmed (on/off @ 213/205). I would have them on/off at 185/176 but I found that setting tended to have them running all the time and I didn't care for the extra wear and tear on the fan motors and the alternator in that scenario.