turbo90 wrote: Anyway, can the wrap be holding too much heat in the system?
no. if anything it will HELP by reducing your under-hood temps. the only danger heat wrap poses is it causing the metal of the exhaust to get hotter which would cause it to crack it but can only HELP resolve heating issues. not cause them. the wrap is just insulating the heat IN the exhaust. not amplifying it. it's just keeping it from radiating to the engine bay.
turbo90 wrote:I used a crappy ebay timing kit (I'm saving for an OEM one now) that fit a little odd, could the valve timing be off just enough to cause the heat?
If you are talking about a timing SET (cam gear, timing chain, guide, tensioner) you'll know if there's anything wrong w/ your timing when you take a light to it. some signs that its off would be intermittant back-firing and dead spots in your powerband. it'd be a good idea to take a timing light to it if you are in question at all. best case scenario is you verify its on, worst case scenario you find it off and correct it.
turbo90 wrote: I just put in a new thermostat, and new coolant about 80/20 water/antifreeze, the water pump is spinning, and the radiator is hot, so water is moving.
did you remove your radiator and clean it out? when I did my turbo install I pulled my radiator and sprayed it with a hose. you'll be surprised how much dirt and crap can find its way between those fins. that will help your radiator perform its duties especially with the reduced airflow it's getting with that intercooler in there. secondly I'd adjust your water/coolant ratio. I understand coolant doesnt have any cooling properties, it DOES keep the water from boiling. once that starts to boil you're pretty much screwed. try changing it AT LEAST to 70/30 coolant/water and see if that helps. also did you burp the system? there is a bleeder valve on your upper radiator elbow that can be removed. you fill the system with coolant until it comes out the hole and you have an air-free water-jacket and no burping to do.
Some things you can do to reduce under-hood temps:
keep that heat-wrap on! it's helping you if anything.
shim your hood. add a couple of washers behind the rear bolts on your hood hinges and remove that rubber weather strip. I did it on my car and it does help keep the engine bay a good deal cooler.
wire your AC fan to turn on with the ignition. if you're running an 89-90 model car then you've got that puny fan in front of the AC condensor. right now it's just taking up dead space. might as well put it to use I'll take some pictures and show you how to wire it up if you're interested. I wired mine to my AC (since I dont have any AC components both of my fans are wired up to it.) I find it safer to screw with that circuit since it's not crucial to the car's running systems
good luck sorting out your cooling bug let us know how you are progressing.
-Aaron