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David,
I had the same problem with my '82 245. I replaced the thermostat and fan clutch to no avail. Then I replaced the radiator. What a difference! The car will now idle all day in 90 degree traffic with the a/c on and the gauge doesn't even reach the middle of the gauge. I also replaced every hose. The hoses on your car are old by now, if they haven't been replaced, and it's silly to hook rotten old hoses up to your shiny new radiator. Also, before installing the new rad, thoroughly flush the cooling system to get any deposits, etc. out. To improve a/c performance in the city, I added an electric fan right behind the grille blowing back through the condenser. A/C is now cold even sitting still.
Assuming your car isn't a total beater, it's well worth it to put a little $$ into it to keep it going. Much cheaper than a new car, and a well-maintained 240 will go 300,000 miles without a major overhaul.
Colin
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