get 2x FAL black magic fans... theyre shrouded, very low profile compared to that beast..

having the fan on all the time is a bad idea... drains a lot of power, and there IS such a thing as too much cooling... but in your case ... you must have a blockage in the system or.. a bad water pump?

did it overheat this badly with the 195* thermostat? are you sure you installed the thermostat properly?