Keeping 95 5.0 Cobra cool in 100+ weather?

OP, I'm down in SW OK and I'm running the stock set up in my 95 Cobra. Built 306, SC'd and all that other stuff and I never get near your operating temp of 230 w/ the AC on. I just drove to OKC on Sunday and the highest I got was 210 highway.

I've got a Mark VIII fan to go in as soon as I get off my rear to keep it even cooler.

I used to run hotter but your idea about the condenser is likely correct. My original condenser was full of tiny rock pebels and other crap and the fins were dented in a lot of spots so I got a new one and that was it. No more restrictions.
 
Haven't seen it mentioned in this thread yet; if I missed it, my apologies. Have you pressure-tested your coolant system? If it won't hold 16psi then the car will appear to run hot. Basically, coolant under pressure will hold more heat per degree of temperature than if the system wasn't pressurized.