Another good reason not to open the radiator cap is to prevent antifreeze from spewing all over your paint. And like was said before, no need to take the risk of burning yourself when there are other ways to test.
If it was fan problem then cruising 50+ mph on the highway should keep the car cool. Is the scrape guard still on the car? It actually redirects air towards the radiator.
However, if it runs hot at speed and is better at idle, then either the block is not transferring enough heat to the water (a water flow problem), or the radiator is not transferring heat to the air.
Things to check:
1. the coolant itself (clean or not, any gasket material?, is it low, are you losing coolant? Is the heater in the car still blowing hot air?) If you have found debris in the coolant, then it's possible you've blown a head gasket. If so, this crap can block coolant passages causing problems.
2. fan (is it electric? Does it come on lower than the t-stat opens? Is there a shroud that forces air through rather than around the radiator?) Signs of a poor fan are obvious when the car overheats at idle, but not at cruise.
3. Check to ensure that stock vents are still in place. Air scoops/brush guards usually help to push air through the radiator at speed. A GT without the hole that leads to the radiator is more susceptible to overheating without the front air dam/scrape guard.
4. Thermostat (is it allowing water to enter the radiator?). One obvious sign of a bad t-stat is that the upper radiator hose is still cold
5. radiator cap (since you have a pressure release, you should be able to tell if the system is pressurizing)
6. Temperature gauge (is it reliable? Test it with another sending unit or a hand-held thermal readers
7. Radiator (Has it been flushed? is it corroded? How old is it? Are too many of the fins bent?) If the radiator isn't flowing air or water well, then it loses efficiency. Generally a radiator that's too small or has become inefficient will be noticed while the engine is under load.
That's all I can think of for now. Good luck.