lunatic,
have you tried flushing the system a few times?
how about checking if the return hose to the expansion tank is not blocked?
sometimes, part of the water pump impeller imparts small rubber stuff that gets into the return hose that will block return coolant from the radiator
another possibility is that your high speed fan is not working or running when temp reaches high temp, and the temp swings tend to indicate clutch fan mechanical wear, in relation to the fan clutch is the V-belt , which could be loose-when was the last time it was changed?
other remote but possible symptoms are the radiator cap faulty, not releasing pressure thus the high heat at low speeds, air bubbles in system,was not bled proper, incorrect valve or ignition timing-for L-jet, which i suspect yours is, it can be done by turning the round distributor, but has to be checked for proper alignment with strobe lights
if you wanna play it safe, there is a way to mod the termostat and fan clutch to have yur temp stable at 1/3-1/4 or about 2 notches below the half temp......no mood now to tell , maybe next time
good luck