Have to agree with Jay, I run 160 Tstats on my "hot rod" type cars, and older vehicles. I would rather have my engine running 160-175 most of the time, as if I do get stuck in a traffic jam on a hot day, I have to believe having 30-40 degrees of safety margin before boiling over is preferable to only having 10 or 15 degrees of "wiggle room". And drag racers, especially Stock and Super Stock racers run their engines much cooler than CV355 mentioned. Pretty rare to see a Stocker or S/S car staging with over 120 on the temp gauge, in fact, many of the faster guys has "chillers" which pump ice water thru the cooling system in the pits or staging lanes, often stage at 60-80 degrees F, especially if there is a heads up race, or attempting to set a record, or improve on a qualifying position.
Concerning engine wear, in 1990, I did a ball hone quickie rebuild , with new rings on the factory installed standard pistons on my 1975 390 PU engine. Yes, It had a 160 thermostat, and that is where it normally ran, other than in hot (100+) air temps. I drove that truck until I sold it to another racer in 2014, who is still using it to haul his race car. So, if a standard bore 390 from 1975, is still running fine, and uses no oil between changes, after 33 years since the low buck rebuild, and the bores and pistons have been in service for over 45 years, I have to say that if this supposed "premature" engine wear hasn`t happened yet, when should it be a concern?