My car ran a little hot before as well, but not quite that warm. It still will creep a little after driving on the highway on a hot day, then sitting in traffic for extended periods of time. As long as I stay moving, it hangs right around 195 degrees.
Does the car have underdrive pulleys? If so, put the stockers back on. Do you have a blanket over the turbine housing? Have you put header wrap on the down pipe? Cutting down on ambient heat helped me out a bit. One of the best cooling mods I've done was turning one of my buddies loose on my front bumper with a dremel tool.
1991 LX - Turbo 5.0
Old Combo...Stock block and heads, Turbonetics 62mm...6.78 @ 104.25 - 436rwhp/508rwtq @ 10psi
New Combo...Boss 347, TW heads, Super Victor, Cam Motion cam, Precision 78mm, Big Stuff 3, etc...