Gauge accuracy is worth some attention. My GT6 had a Smiths oil gauge (added by a PO) and a Smiths water temp gauge. I had noted that my oil pressure was abnormally low, especially at idle about 10-15 lbs. The temp was always very low, too, but with the C-N-H indicator, I never knew the temp.
I recently installed a dual Smiths oil pres/water temp gauge. I tested the gauge's water temp with two candy thermometers (perfect) and checked the oil pressure with a friend's external gauge. The external oil gauge showed about 30 lbs/in at idle.
The old instruments were wrong. Now, my new guages shows idle oil pressure at about 30-35 lbs. and the temp stays around 165 in this cool weather.
At the least, I'd recommend testing the water temp gauge in a pot of water with a candy thermometer. It may save your (engine's) bacon.
I also strongly recommend that you perform this candy thermometer test when your wife or S.O. isn't looking.