Wayne, 210 is on the high side of normal, but still safe. A 160 thermostat may actually make you run hotter, because it wont let water stay in the radiator long enough to transfer heat. If I were you, I would just bump up the 'on' setting of the fans until you get a good cycle and run a steady, acceptable temperature. As I said earlier, most oe fans now engage at about 210, so maybe 200 would be good for a well run Cobra. If your fan controller is adjustable, just keep inching it up untill you get the fans to cycle and maintain good temp.
As far as being paraniod....as far as overheating goes, better safe than sorry!