you might have some air trapped in the heater core. touch both hoses when the engine is warmed up, both should be hot, if ones cold or warm. flush it.
yes 195 t stat is stock. lots put a 180 in there.
no the cluster gauge is not accurate. use a obs 2 scanner for true engine temps.
valve covers leak, take a clean rag and run it under the lip of the valve cover, if it comes up wet with oil, bingo.