Here is the Ford specs for the cooling fan operation.
"
Cooling Fan
The fan control system consists of a two-speed fan on all 3.0L, 3.2L SHO and 3.8L engines with ATX or a one-speed fan on 3.0L SHO engines with an MTX, attached to a fan shroud located behind the radiator. The cooling fan is wired to operate only when the ignition switch is in the RUN position, thereby preventing cooling fan operation after the ignition switch is turned to the OFF position.
The cooling fan is controlled during vehicle operation by the Constant Control Relay Module (CCRM) and Powertrain Control Module (PCM) which will energize the cooling fan under the following conditions:
l Cooling fan is turned on for the 3.0L SHO and on at low speed for 3.0L, 3.2L SHO and 3.8L if:
a. Engine temperature is higher than normal. (Fan starts running at 102°C (215°F) and stops running at 99°C (210°F).
b. A/C is on and vehicle speed does not provide enough natural airflow. (Fan starts running at speeds at or below 69 km/h (43 mph) and stops running at 77 km/h (48 mph).
On 3.0L and 3.2L SHO engines with ATX, low speed cooling fan motor operation is achieved by using a dropping resistor in series with the motor/motors.
The 3.8L uses a dual winding fan motor in which low speed motor operation is achieved through the low speed motor winding circuit (no dropping resistor).
Normal operation and cycling of the engine cooling fan will cause the temperature gauge indicator to read between the mid-point and upper portion of the temperature gauge scale. The slightly higher indicator reading will return to mid-point when fan operation begins."
in addition...
"..when vehicle speed is over 72 km/h (45 mph) and coolant temperature is below 104°C (220°F). The fan will then automatically shut off."
I have a'97 SHO that had the factory 192F t-stat in it. The temps usually ran around 205F-210F in the summer. These are normal temps IMHO.
I put in a 170F t-stat. The car would run at the cooler temp until the heat built up from heat soak or extended driving. I installed the adjustable fan control and now the car runs at the temp that the control turns the fans on, 175F.
On my '93 in the summer the car will run cooler with the A/C on because the fans are on. There is a lot you can do to better control the air flowing through the grill to enhance cooling. The most two of the most benificial changes you can do are a bottom valance panel, which will force all the air entering the grill to either go through the radiator or around to the wheel wells (cooling the brakes). And a front spoiler which forces much more air into the grill area.
My front spoiler is rather crude in this picture but is very effective none the less.