A new thermostat is good. Any chance it was a lower temperature than the stock one? I think they were like 87-90C stock depending on turbo or not. Some people like to convince people to put super-cold thermostats in (like 70C instead of 87C).
I had an engine I thought was in good shape. No oil burning, minor leaking, no coolant loss, everything looked great. Cylinder 3 was leaking past the fire ring and into the oil return, and only had 60psi compression. Every used junkyard engine I checked had a bad #3 cylinder as well.
It's very worth checking.
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