yea ive never seen a gauge itself fail, and they are pretty accurate. what i have seen fail on my own rigs are the temp sensor for the gauge, the one on the intake manifold.
my normal op temp for my 85 makes the gauge sit right about where u say yours is. right below the half way point. and i have a replacement oem thermostat.
takes alot for a 22re to run hot unless its got a head gasket prob, or no water/coolant