Installing a new thermostat

[denpooch]

Hey folks, has anyone installed a thermostat on a Crusader 6.0 Captains Choice engine? I am told it is 'in line' with a hose leading to the engine's heat exchanger and not installed in the normal thermostat housing with which we are all familiar.
My starboard engine is running hot (always at least 10-15 degrees over port) and I was planning to change out the heat exchanger next Spring. A friend suggested that I try replacing the thermostat first for $50.00 as opposed to the exchanger $850.00.
They are the original exchangers and would be interested to know if any of you change them out as part of your longer term maintenance routine. I did have an issue with a tranny oil cooler last year and replaced all of the oil coolers.
All thoughts ae appreciated. Thanks.

[hausherrs]

Replace them in both engines. Here is where the are. #8

http://old.marinepartssource.com/crusaderpb/5057-42.asp

As for the heat exchangers mine are the original 1996. I just maintain/de scale/re zinc them...