I've been playing around with the Torque App on my adroid with a Bluetooth/OBDii adapter. I saw temp get up to 124c today pushing hard up a steep grade along I10. Generally, cruising at 75mph, I was averaging about 117c. It was slightly worrying, but the dash gauge never moved off center. Also, my radiator fan doesn't kick on until 112c. I don't know if I have some cooling issues, or this system was just designed to run hot.
I thought mine ran a little hot but perhaps not. Datalogged with a MATCO scanner last summer. Prolonged highway speeds about 230F was normal. It quickly cools off when you slow down. If I remember correctly 20 degrees drop before I hit the end of an exit ramp. Runs about 200F in town. No signs of overheating and my heater isn't impressive in winter.
They run hot. Normal is around 220-225F to turn low fan on and 230-235F to turn high fan on. The normal temp can range from 215 to when low fan kicks on.
The gauge needle pretty much does not move from 175F till around the time high fan should be coming on, it's really an idiot light disguised as a gauge. Ford was paranoid about people thinking a normal running engine was overheating. Even now people constantly think the fans aren't working once they begin looking close but half the time they are, only at higher temps than they are used to.