NYRangers, That'* correct as written. The 180* thermostat will open when your coolant temp reaches 180* F. Many people here feel this will help the longevity if not the performance (maybe a bit?) of your engine.
This from TECHINFO, under the title First performance mods
For a slight gain in performance and to save yourself the headache of cracked upper intakes and extra heat damage caused by the added stress of performance modifications, the #1 mod should be a 180° thermostat. Ditch the stock 195° right away. Some people will also suggest you add a tranny cooler, even if your car already has one.
For more info, and tons of threads talking about this, search on this site, using "drilled thermostat".