If you're running with a 92 deg thermostat then in my experience it's normal for the temp needle to run a bit above normal. Volvo specs two thermostats for B230s, Type 1 @87 deg and Type 2 @92 deg (ref 1994 240 Pocket Data Book). I've seen various arguments as to which one is most approprite to use under various operating environments and as well between turbo and non-turbo engines. People variously run with thermostats anywhere in between, even up to 94 deg, depending on personal preferences and thermostat availability. In my experience, and this may depend on market, the 87 deg thermostat is what normally came with the car from the factory. The temp guage would have been calibrated to that temp, so a 92 deg thermostat would read a bit higher. In my experience the difference with a 92 deg thermsoatat is reading more like 9:30 o'clock, so over 10:00 isn't what I would call normal, something's going on. In my experience with clusters without the temp comp board, they don't get that badly out of whack, in fact I find they remain quite consistent and stay in whack over the life of the car. An IR thermometer reading on the thermostat housing will of course be lower. How much, I'm not sure. Those temps stamped on the thermostats are opening temps. Full open is listed as 10 deg higher in the data book. Restricted coolant flow could drive the temp a little higher, especially if the ambient temp is summer extreme highs. When was the last time your cooling system had a good flush? new thermostat? new rad?
--
Dave -still with 940's, prev 740/240/140/120 You'd think I'd have learned by now