Too cool will promote excessive cylinder wall wear. As the temperature goes up, wall wear goes down.
160 is too cold if you want longevity.
I run 180*, it holds there very solid, extreme heat/long highway cruises it may creep to 195*. But then again, less cylinder wear. I used to run a 160* stat and thought 'cooler was faster', for some reason people tend to think that their engine running very cool is like a 'status symbol' almost.
I've gone through school, and run a 180* in my pickup and my 'Cuda. Just my personal preference.