The number on the thermostat refers to the temperature at which it opens to let coolant flow through the radiator. Therefore, a 160-degree thermostat will begin cooling the car at 160, and a 180-degree unit will begin cooling at 180. Barring any extreme cold, the temperature you choose will be the minimum the car will be allowed to run.
Now speaking technically, MGB engines run best at around 190-degrees. So in a perfect world we would all run a 190-degree thermostat. However in hotter climates our cars typically run much hotter than what the thermostat is rated for, so whether you run a 180, a 160 or even no thermostat at all, your car will run at exactly the same temperature on a hot day.
While a 180-degree thermostat is technically the proper one for an MGB in any climate, most people run a 160 in hotter areas to allow for that extra bit of cooling you may get on a decent where the engine may cool to 170 or so before the next big climb.