The ECU looks at coolant temperature to switch over from cold idle to hot...that occurs at about 176 deg F. In addition, the ECU looks at coolant temp for a bunch of other things...injector duration, timing advance, etc. If you change the thermostat to a colder one, it can make the motor run rich across the rpm range if the O2 sensor can not get the ECU to compensate.
A colder thermostat will not make your engine run cooler...it just opens earlier. At minimum you will delay the ECU from switching from cold idle to hot. Thermal capacity of the radiator and airflow across it is what will make a difference.
I live in Phoenix myself and run a 180 deg thermostat...that is just to get the cooling system "ahead of the game" during the summer out here. Unless you live in a place that's hot (like Phoenix and it never really gets cold), I would use the stock 195 deg thermostat. I would never use a 160 deg one.