IMHO, downsizing a cooling system is not a good idea in general. Current cooling systems do have a phase change temperature regulation. If you look at a modern coolant recovery tank cap they are designed to vent at a given pressure. As your car engine over heats water turns to steam and builds pressure. When the cap vents it allows more steam to be generated. Provided your coolant doesn't drop below a certain level your engine cooling system will not exceed boiling point.
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