You should be fine with either switch. If the relay switch changes at 160' or 180' it still works and would be cool to show off the analog input to a 40-year old auto climate control system. I remember a 1975 ish pontiac would cut the blower motor way down until the coolant reached a certain temp then it would blast. (wish modern cars did this, really)
The varistor side of things should be a "ford standard" as they might have this sensor in various motors and the recipient dash gauge in many bodies. Besides, they'd use whatever cheapest varistor the supplier could come out with, and take its temp vs resistance curve as gospel.
My WAG is plastic making in 1970 just happened to use that color.
If it does two things, it would have to ground through the threads, and I can't tell from that picture how they keyed each contact so only the proper wire was attached.