My guage reads hot as well. Here is my temp gauge at 180F (checked with pot of water and fluke temp meter)
Here is an article I found on Randall's (btw, thanks for the link to transmitters) approach:
Optional: Calibrating the Gauge
Just about every Plus 4 owner I have ever talked to relate that the original temperature gauge reads hot.
This may be a result of Morgan not using a voltage stabilizer or a gauge that is simply out of adjustment.
The following apply to both the original gauges and your TR6 'Transplanted' Gauge.
1. Remove the sender unit from the radiator and suspend it in a pan of water. Clip a grounding lead from the sender to the car
2. With a thermometer in the water, heat the water to 180 F.
3. Place a small screwdriver in the adjusting slot on the back of the gauge and turn to move the needle to the centre of the Normal block.
4. Raise the temperature and once the water starts boiling, the needle should be at the bottom of the hot block . My Gauge reads as follows Bottom of normal = 170 F Top of normal = 190 F Bottom of Hot = 212 F
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https://www.gomog.com/allmorgan30.html
Feedback and comments are welcome.
Tim