The 195 degree F thermostats came in with the "reduced emissions" era of about 1969. No other real reason for their existence.
160 degree F thermostats were used on some middle-1950s cars (1955 Buick V-8s spec'd that temp from the factory, IIRC) AND their temp gauges were calibrated for the middle of the operating band to reflect that temp. Some OEM cooling system designs seemed to need a bit more help by opening the thermostat a bit sooner than 180 degrees F. Those old Buick Nailheads had a higher nickel content in their cast iron, block and heads, so cyl wall wear at 160 degrees F would probably be less of an issue.
According to Edelbrock (in the middle 1970s), 180 degrees F is where the optimum engine temp for decreased cylinder wall wear begins. 160 degrees F is down where more wear can happen, but it would seem that this might be more critical with the type of motor oils we had bach then than what we have now.
IF the 160 degree F thermostat might result in more power, allegedly, then all of the hot rod engines of the middle 1960s would have had one. They didn't. They all had 180 degree F thermostats, as I recall, until they all got the emissions era 195s from 1969 onward.
By observation, a thermostat is a flow restrictor more than anything else. One which is variable depending upon engine temps. Might somebody feel the need to deviate from OEM factory specs (180) to something cooler, I suspect their cooling system might have some issues that need to be looked at.
Just some thoughts,
CBODY67