Re: head temp
You should be able to hold your hand on the top of the head for a few seconds without burning yourself when the motor is up to temperature -- means the temp at the top is about 130 or less. On the face of the head by the plugs, though, it will be hotter. It sounds like the cooling system is working the way it should, although the t-stats might indeed have been removed at some point. If the engine is new to you, it might be a good idea to run it a little bit to see if it runs smoothly throughout its operating range. Overheating is normally the issue needing correction, but in the unlikely event it's running too cold, it probably will not run smoothly or accelerate well.