Hi Philip,
Exactly that. The engineers have designed the engine so that everything (cooling, lubrication, carburration, etc.) should run optimally at a certain temperature. That is why the thermostats, fans, cooling channels and capacity as well as the oil capacity and flow, have all been defined so that it would run as good as possible.
Once you start changing things there may be unwanted results, most typical being the mentioned vacuum valve not closing the distributor vacuum retard. Most people advice to just block it, but there are always other things that will be affected as well.
I am very happy with all Jaguar engines that I have even been using, but they are all different and factory specs for things like thermostats should not be forgotten.
Cooler is not always better, the AJV8 for instance had an optimal cooling fluid temperature beyond 100°C IIRC.
Sure, on the Series 1 70°C is good, but if you drive up a mountain or very fast, it’s normal that it will rise to 90°-95°C, that’s not “overheating”.
In my experience most real overheating that may result in valve seats dropping and other catastrophies happens when the car stands still and does not get enough cooling to the heads. The “Old school” advice for all high performance cars always works IMO, after a spirited drive or after taking the speedo to three digit speeds always run for a while in top gear with low revs and after stopping allow the engine to run for a while, or shut it down for just 1 minute and then restart for a while until the temps in the heads are reasonable.
The “Normal” operating temperature for the V12 is higher than on the XK engine (1949-1971) the later Series 3 XJ6 with EFI is another story again, for different reasons.
I would not change anything to lower the normal operating temperature of our V12 E-type, getting it to run at 70°C instead or 90°C would surely not do anything good, but it might change things for the worse. Mr. Claude Baily, Harry Mundy and Walter Hasan were no novices in 1971 when it came to engine design, they knew for sure what they were doing.
Just watch this: https://www.youtube.com/watch?v=u6h8PFaz-F8
Cheers!