I traced down the wire to the Auto Meter, under dash gauge and the sending unit is screwed into the block on the lower right side near the oil filter/oil pressure unit.
Someone has removed the block plug and installed the sender there.
I would think the water temp would be lower than at the top of the heat exit/outlet into the radiator than in that rear, lower area of the block.
Yeah that would be about the coolest place to be,next to the inlet side of the pump. It's kindof a good thing to know what the rad is getting the coolant temp down to....... but it's probably better to know what the engine is getting it up to,lol.