Don't underestimate the thermostat!!! Different car I know, but my 65 Mustang had an overheating problem that I swore was the radiator. At low speeds (under 45) it remained cool, but once above temp began to climb. Not to the point of pegging hot on the gauge, but enough to know there was a problem. It would cool abit at lower speeds or while at lights. I thought it was the classic sign of a clogged radiator as I've had with other vehicles. After buying a new radiator - no difference, so I removed the thermostat. Took a long time to reach operating temp, but eventually did and went far beyond. The fluid needs to stay in the radiator for while to dissipate the heat. Next I bought a 160 thermostat (previously was a 193 or 195). The car (per gauge anyway) ran cool as could be, not moving much out of the cold range on gauge - at any speed or idle. Also gone was the stinking hot engine and upper radiator hose under quite a bit of pressure after a long drive when you open up the hood as with the original thermostat. I then put in a 180 thermostat, thinking that the engine was really not at proper operating temp. Result - the gauge registered in the proper zone continously at all speeds, idle, etc. - problem solved.
The factory gauges give no indication as to acutally temp in these old Mustangs, but it was obvious I cured the problem. I'm not as familiar with Healey overheating issues as I haven't driven mine since 1983! My point is that my experience has been that flow through a radiator is critical to cooling. Number of tubes in the radiator, thermostat, water pump, etc. are going to dictate the amount of flow. Other factors too effect temp as have been pointed out (timing, bored engines) but you might consider a much cheaper (<$4) experiment before going much further.
Good luck,
Robert