Well, the fan does kick in, yes... but the same sensor that tells the gauge the bike is hot also trips the fan switch.
Given the symptoms so far, I'm still betting it's a bad thermosensor (~$26), but I might as well go ahead and buy a thermostat (~$40!), as that is also somewhat likely, given the age of the bike, I'm guessing. Seems like the right time of year for one to fail, too... coming off many miles of cold weather riding all winter, and then a few warm days... it seems to make sense to me. It seems quite possible that the thermostat may not be opening far enough to allow good flow of coolant, but open enough to not cause a catastrophic failure... just yet.
For instance, I can let the bike run at a standstill, 60F outside, just idling, for 20 minutes, and the gauge never goes above 2/3rds. Take a 2-mile run though @ 70F, and the needle is pegged, and now STAYS pegged.
What ill effects might I expect on this machine if I just remove the thermostat, altogether?
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