I strive for good MPGs as much as reasonable, but I won't run the water or oil any hotter than the manufacturer thinks it should go. The longevity of an engine trumps eking another MPG or two out of a gallon of gas.
Since I live in the South, I'm always watching for excessive oil and water temperatures during summer months and look for ways to keep them in check. In fact, I even put louvers in my Mazda3's hood to manage excessive engine bay temperatures which kill batteries and other things which can be degraded by excessive temperatures.
IOW, fuel economy is important to me, but it doesn't trump everything.
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