First, get rid of the flex fan. Second, get rid of the 160* stat and install a 180*. Are you running a shroud? If not, then it is a MUST!!! In my previous post, I linked to the exact setup I run and my car will idle ALL DAY LONG in 95*+ and never heat up past 200*. 200* is when my fan turns on. Flex fans are horrible, IMO. They are notorious for coming apart and when they do, they usually take the rad and sometimes the hood with them. At high RPM's, they actually fail to cool because the blades flex too much, but that is the way they are made. Definately chuck that thing in the garbage along with the 160* stat. I would get a Mr. Gasket 180* performance stat, but make sure it's not the type with the holes in it. Those are not bad, but in cold weather, they will affect your heater output. I found that out the hard way. I couldn't understand why my heat wasn't as hot as it should be, then I forgot that I neglected to switch the Stewert performance stat with holes in it out for my Mr. Gasket performance stat without holes when it started to get cold out. Now, I just leave the Mr. Gasket stat in all the time. If you choose not to get the components I linked to, then I would definately get the Entropy unit. Also, I would invest in a high flow water pump.
An aluminum 2 core radiator can out perform a 4 core brass/copper rad. Not to mention, they look 1000 times better. Definately get a shroud for your fan. It needs to cover the entire core. An electric fan without a shroud or any fan without a shroud is only going to pull air through the diameter of the fan. A shroud allows air to be pulled through the entire core.