Thermostat or No Thermostat?

You need a better pump and a better radiator. Just because the radiator isn't plugged doesn't mean it's big enough.

Also, a high volume water pump should be on every build. Ever. You can get a Milodon pump for 80 bucks or something.
I don't know exactly what he has for a radiator capacity, but I completely agree it could be that his low rpm pump flow is less than desirable. On the cheap he could use an 8 impeller water pump, or a.c. version or move to a milodon like you recommended.
Personally, I use a single 1 inch row aluminum radiator in my street car, 410 10.1 comp and it never gets hot, stopped or hauling ***.. so I'm betting the pump and or then the state of fan location or "size".