Very helpful, all. Thank you. It sounds like I may have a problem.
In response to some of the questions,
oil (recently changed) is Valvoline 10W-30,
oil cooler is connected (one line to
oil filter, other to engine block), fans are both working, and both correctly turn counterclockwise, pulling air through radiator and oil cooler.
I bought an infrared thermometer (accuracy +/- 3%) today, ran the car up to water 100C/212F and oil 120C/248F by guages. Using the infrared thermometer, I shot the oil temp sensor housing at the oil filter (without pulling it) and surrounding oil filter hardware. Highest temp was 102.2C/216F (compared to guage reading of 120C/248F). That suggests my oil temp sensor may read a little high, but I don't know what temp loss is from inside oil and sensor to hardware outside and so, don't know. I then shot the oil pan, highest reading was 115.5C/240F.
I took some oil pressure readings today at different temps and different rpms, am giving those to one of the SPF experts, who will talk to me about viscosity recommendations.
Given comments of CWizard and others, I am a little nervous about pulling the oil temp sensor to test it myself.
I may have car taken in to the guy here in the Dallas area who is best for Cobras, have him check accuracy of oil temp sensor and guage and plumbing of oil cooler. If reads are accurate and oil cooler is plumbed correctly, then we can have a discussion about next steps.
Again, thank you all. Enjoy remaining weekend.