lower t-stat will not lower temps.
All it does it open the tstat earlier, and will slow the motor from heating up to operating temperatures. a lower 160 degree tstat doesn't mean the motor will run at 160 degrees, just that it will open at 160... the operating temps depend on a number of things, including efficiency of the rads, fans, water pump, etc.
Water wetter -- some guys swear by it, I think it's snake oil. I don't think it can hurt.
The only sure way of lowering temps without impacting engine performance is a higher quality rad or better fans.
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