I also have one of the new reproduction heat gauges installed in my jimmy. It works but is kind of erratic and for me functions as more of a guide than a precision instrument. I have a 180 degree thermostat and it more or less reads 180 under conditions I would expect it to. I don't have a fan shroud yet, and in conditions where I would expect the gauge to show more than 180, it does....things like lack of forward motion pushing air through the radiator...low coolant level...bucking a wind or strong side winds.
I think we are used to modern gauges which are much more accurate or at least appear to be to the average person.