I have a 2 month old turbo charged Audi that regularly hits 105 degrees (
oil temp) and up to 110 on hot days just cruising around. So long as your
oil is up to the task I wouldn't be concerned. Eg, full synth GM approved.
Regular
oil changes and don't abuse the car on 40 degree days and you'll be fine. I'd be putting a cooler on the power steering though - speak to Stiffy about that!