I drained the system. FYI, for those who have never done this, draining the radiator at the petcock is merely the first step. After that, when removing the drain plug on the side of the block, you get nearly 3/4 gallon more coolant. Since I'm running Evans waterless and it's expensive, I taped a piece of plastic wrap to the block just under the plug and put a container below that. When I removed the plug, the coolant ran down the plastic sheet and into my container quite nicely.
https://tinyurl.com/ycn7kcxl Didn't lose a drop, and nothing touched the (new) paint. The drain plug came out easily, was not rusted in place. It had what looked like the original paint on the threads.
I ended up putting the factory temp sender (I actually used a Ford model with 3/8 NPT threads) in the drain plug hole on the side of the block, and put the FiTech temp sensor in the hole on the head (after drilling/tapping to 3/8 NPT).
https://tinyurl.com/y9bvax4u
I took some temperature measurements before deciding on this, and my intake runner temperature curves seemed to match that of the temp sensor spot in the head more than the one in the side of the block. This could be because I ceramic coated my exhaust manifolds in black - the most emissive color, radiates more heat than say, silver or grey. Also, I have a carb heat shield that reflects all that emitted heat back to the intake runners. Anyway, the temp sensor in the drain plug hole works fine for the factory temp gauge.
Note, I did not remove the thermostat housing to do this work. Since I expanded the hole in the head where the factory temp sensor was, from 1/8 NPT to 3/8 NPT, I found that my mini-vacuum attachments actually fit in the 3/8 NPT hole. I removed the metal shavings with vacuum as I drilled the hole, and after I tapped the hole I put the vacuum into the head and sucked out the metal shavings that fell into the head (apparently) cleanly. The amount of material that I collected must surely have accounted for >95% of that created during the drilling/tapping.
Next step is pulling the intake/exhaust manifolds/carbs, installing the Fitech system, wiring it up and going from there. FYI, I fabricated the linkage for Lokar cables, nothing OEM fits the FiTech system. It's not pretty, but it is very solid.
https://tinyurl.com/ycdwzth6\
https://tinyurl.com/yayph59s
https://tinyurl.com/yd7yx2jl
Brian