Unfortunately its not as simple as that Dave as you can have no thermostat but if your rad is knackered or too small, airflow restricted, cooling system not clean or engine not running right and producing excess heat your car will still run hot. However yes IF you have excess cooling capacity in your system (unlikely in a standard 50 year old Triumph) a lower setting thermostat will keep the temperature down. Be aware though this is more likely to happen on days when the ambient air temperature is lower (winter) as of course thats when your cooling system has increased heat transfer capacity and the thermostat can start to close to reduce flow through the radiator....