that's a good question ,the trick is compare it to what ........the tell tale is direct water flow from the motor as soon as the waterpump fills the engine ,the middle holes are generally (on most motors ) where the water comes out from the thermostat starting to open ....you might get a response from others to replace your thermostat to insure that your motors is running at proper temp .next comment might be to replace your water pump as well ,even though the tell tale shows its pumping if your water skiing or running around at high speed it might not be enough flow ....the thermostat keeps the water in long enough to absorb heat before it exits ,,,opening of the therm too early can cause them to rum warm as well as a sticking therm well you know what happenens then .........ive noticed evinrude Johnson running about 140 at the therm housing your temps don't sound bad ,but usually it would take a while before the water coming out the tell tale to be warm