I think the t-stat'* rating is at fully open, but I'm not sure. There have been a lot of posts on here with different people asking about "correct" operating temps, but really there'* some variance from car to car. Mine (with a 180*) runs at 180-185 when cruising on the highway, and gets closer to 195 or 200 in town. I've seen people who run over 200 (usually 205-215) and their cars are fine, and I'm almost positive there are a few others who run a little lower like you. Are you seeing those temps all the time, or just on the highway?
1997 SE w/SLE package
"White curse? I think it'* more like.... WHITE FURY!" - MyLittleBlackBird