Re: water or temp gauge ?
I always have both, and that is the best way to set it up.
The pressure gauge will give you an early warning if you pay attention to it so if the water pump is not working well, you would notice it before there is a real problem. Unfortunately, neither the pressure gauge nor the tell-tale will let you know if water is actually going through the cooling passages in the engine.
That is where the temperature gauges come in because they will give you a heads-up when the water is not circulating properly.
The engine could run cold for years and you might never know it without the temperature gauge. If you wait for the overheat alarm, the damage may already be done before the engine gets hot enough.