Whoa there !!! Have you checked to see if the heads are indeed warped? One of my most favorite tools is a straight edge from SnapOn that was used to measure Wankel case flatness. Get a really good machine rule and check for warpage, maybe just need a clean up surfacing and be down the road. That is unless you feel or can verify that the heads are cracked in some way and need actual replacement. Again, 200 to 225 degrees are not unusual, they are survivable temps. Also use that machine rule on the block surfaces to check for deck warpage. Were the heads drilled for steam holes? Quality head gaskets? Retorque the heads after a couple of heating and cooling cycles? (That's a question and a future suggestion) Also the usual ... what's the timing (initial & total), how was the timing set (plugged vacuum line, 12 degrees initial, 32 total), sealer on the head bolts that go into water, thermostat O.K.?, I'd rather see a fixed mechanical fan on there but, an electric will do (is it thermoswitch controlled and is the switch working?) Carb mixture O.K.? Idle mixture set properly? As PotvinGuy has tried, setting the initial advance higher (say 16 - 20 degrees can be beneficial, just watch the TOTAL timing mark, no more than 32 degrees).
Sorry to hear 'bout your troubles, everything can be fixed. John
