I quit trying to keep the oil cool, way back racing on the ice. I just started using Mobil one and have not monitored the oil temp since. I am sure that it is way hot. Any of the good synthetics will work fine well up to about 300*. IMHO. I only use the stock OIl to water cooler, no additional coolers for me.
I cant remember having a oil related failure,( other than running out of oil,ignoring the light, in one of the Chumpcars))
I had a few drivers actually look at the oil temp gauge( back when it had a stock GTI gauge pack) and come in for 280*.
Sadly, I also dont look at pressure. Just run a low # light. The VW oil system has so much volume and plenty of pressure that a few pounds off makes no difference. Too much oil pressure, cost too much power and really twist the inter shaft as well as scuffing the pistons when cold.
I check the rod bearings every 25hrs. and the crank end play as well. ( I check the cranking compression and leak down every mon ,post race)
I run Rotella synthetic 5/40 now. ( 1200PPM zinc) Quick oil pressure to the rods and pistons.
As far as water temp, I like to heat up my engines as fast as reasonable. The only engine that I ran without a Tstat is the oval tracker. 8min race with the low RPM of 4800 builds plenty of heat.
All of the rest, I use a 160 , with a 1/8 in bleed hole. Stable high temps makes more power. The air temp gradient from intake to exhaust is what helps make power. If the head is too cool, your'e not getting full combustion and are missing some heat gain.