Dear shane83SD:
I explained why the lower radiator hose and the bottom part of the radiator stay cold (or very slightly warm) in this thread:
http://www.peachparts.com/shopforum/printthread.php?threadid=77194
If you drive your car long enough (I think at least 30 minutes or more), you will see that the lower radiator hose/radiator bottom will be just as hot as the upper radiator hose.
I agree with DieselAddict and Leathermang that there might be no problem with your old thermostat at all. Also, Gurkha lives in a hot tropical country (India), so it may be better for him to use a thermostat rated at less than 80C. However, you should not use it in the US. Temperature range (for coolant) from 85C to 100C is ideal for a diesel engine.
Eric