A lower temp. thermostat (160) is a performance up grade. I run a 170 degree in my 97 5.7 L. , and would have put a 160 degree in if I could have found on at the time. My truck runs better on a colder thermostat. Cold air helps gas to atomize better. That why there is such a big market for cold air intake system (K&N, ect.) A long time age, drag racers use to make a coil in the fuel line and put in a can of ice so that the gas was cold going into the carburetor. Today they use Nos. , it is mush more effective. On the gasket, an o ring is what is in there , not a flat gasket. There is a grove in the top housing that the rad. hose is on for the o ring to fit into. A 195 degree thermostat is what came stock in the truck, when it was new.