Engine running too cool?

I HAVE A 1975 VETTE WITH A 330hp GM crate engine. When I'm running around in it the Temp gage shows 160 degrees. If the temp gage is correct, is this too cold for this engine? The water pump is new and the radiator was checked out while I was rebuilding the car. Also, the fan shroud does have the extension on it. What thermostat should I have in it? Thanks guys!! Darrell

You should drop to your needs and thank the Corvette Gods.....99% of the other Corvettes run too dang HOT! 

I would be highly suspicious of the gauge reading....unless you live in Iceland or something, where the normal temps are in the teens.....
I would suggest you get a non-contact type thermometer, and check the actual temp of the coolant on the thermostat housing. Either the gauge, or the sending unit is lying to you. IF, however, it actually IS running that cool, then it can cause problems with condensation in the engine, and accelerated wear.
I would suggest a 180* thermostat......

I have seen a lot of posts on this problem the temp senders bought today resistances are not accurate. to try to sum them up a temp sender from AdvanceAuto the BWD WT203Z seems to work best. at water boiling point the sender should read 78 to 82 ohms. you can test your gauge using a variable resistor or you can get 78 ohm resistor from radio shack I believe someone had to get a 68 + 10 to get the 78 and your gauge would read 210. you would remove the wire from the sender hook to resistor to grnd. do a search on temp senders for corvettes ands you will find many post and explanations. do you have the sender from your old motor? you could try it

|UPDATED|5/17/2013 5:46:54 AM (AZT)|/UPDATED|

There's always the possibility that the t-stat is partially stuck open.  It doesn't take much. 

What temperature t-stat are you using?