Re: Just one more temp. question!!!!
If it dips down to 60 and up and down like that, then you either have a t-stat that is stuck open or no t-stat in place.
Get yourself a new thermostat if you feel the temp gauge is correct. Get a new t-stat, install it and see if there was no t-stat in place or if the one in place is stuck open.
Short version: get a new t-stat and install it.
A 160* t-stat gets the cool water into the engine at 160 (because it directly let's the hot water out), and if temps drop, she closes, so that the water temp in the engine can stay at 160+ degrees (jeeze, it might drop a touch below 160 when she finally closes)... but it ain't gonna dip down to 60 if the t-stat is there and is opening and closing as designed/intended.
160-180 seems a very normal range. 175 is marked on most temp gauges and seems the needle lives in that neighborhood after the engine warms up and stays running.