First, did you relocate the temp sender to the block? If its still in the surge tank, its pretty common to find the water level drops below the sensor level so you read air temp above the water! Second, its also very common to find that the water temp is radically wrong with a stock gauge (of which there are two different types) and sender (also two different), with & without the factory-recommended resistor (two different of these as well...). I've found that calibrating, in the car, whatever combination of gauge, sender & resistor, is a must for any sort of accuracy in a Pantera. A varable resistor makes the job fairly easy. FYI, a 192 degree thermostat, specific to the 351-C only, was stock for the Pantera. This thermostat will not fot a 351-W, and the Windsor thermostat won't work in a Cleveland.
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