I know we all think the vernatherm is supposed to hold it at 180 degrees, but I have never seen it work that way. It really just decides when to send oil to the cooler (if it's above 180 degrees, supposedly). If it doesn't get to that temp, then it doesn't go to the cooler--although some it actually does.
I have mine set up with the cockpit controllable valve. I just made it from a scrap piece of 3" tube and a flipper valve constructed from a 3" circle cut with a fly cutter, and rivet a shaft to it. I live in Altanta, so most of the time in the summer it is wide open, but even in the summer at high altitudes, I do shut it a little to keep the temps 190-200. On my most recent trip to Omaha, in which I am still stuck because Winter decided to come early, the OAT's have been around 25 degrees, and I can only get 177 degrees with the valve completely closed.
This set up has worked satisfactorily on my 6 and 7 with )-360's, and on the 10 with an IO-540.
As Larry pointed out, having one that is adjustable allows for travel between different temps without the need to land.
Vic