Warning!!!
Running without a thermostat, or running one that's too cool can actually hurt your engine!
Running an engine too cool can cause a multitude of problems. Sludge buildup under the valvecovers being one. Not getting the oil warm enough to boil away water condensation and other impurities is another. Actual metal-to-metal wear is increased at lower operating temperatures. Piston ring to cylinder bore wear is greatly accellerated below 180 degrees. Why do you think that the factory engineers specify 195 degree thermostats from the factory? Do you think you know something that they don't?
Running a cold thermostat is just a crutch used by the lazy mechanic to get their car to run cooler rather than acually fixing the problem. A good, clean radiator (clean both inside and out) is the only thing you need for proper cooling. The better it can conduct heat, the better. Rust, scale or other deposits on the inside will greatly reduce its capacity to cool. Likewise, a buildup of bugs, dirt, or paint on the outside will also hamper cooling. If you're having overheating problems, take your radiator to a shop to be boiled out. If that doesn't fix your problem, only then should you start probing further.
Check your thermostat for proper operation by placing it in water, then bring the temp up, monitoring the temp with a candy thermometer. Make sure it opens when it says is should! If it doesn't, replace it with a new one of the proper temp rating!
A fan shroud helps immensely in funnelling the air through the radiator, especially sitting still at idle like in traffic. Forget those cool-looking aftermarket flex fans. Stick with a fan of proper diameter for your shroud.
Also, pure water does not cool the engine as well as an anti-freeze-coolant/water mix. If you live where the temp will get below freezing, run a 50/50 mix. If you don't, run at least a 25% mix. The anti-freeze acts as a 'wetting agent' and will actually improve thermal conductivity!
Milo