dmahlikGT,
Yeah it's a quick and inexpensive troubleshoot or possible fix that doesn't hurt to try. And if you think of the science behind it well...the increased pressure (I think it is 16 psi) exerted with a new radiator caps, raises the boiling point (temp) of the 50/50 DEXCOOL which basically equates to a lower temp reading! At least it worked in my car and I was ready to replace the temp sensor and resort to other measures. Keep me updated!