You guys brought up so many things, it's hard to address them all but dalum's post is pretty spot on. The power is in the tune, the lower temperatures just make it safer. More pros/cons info here:
http://www.reischeperformance.com/WhyLowTemp.htmlA few more thoughts:
You guys have cold-side thermostat setups which means the thermostat housings don't get hot, when the thermostat opens, it lets in chilled coolant from the radiator... opposite of a traditional setup.
Yes, the heater will be a bit cooler but I'd be surprised if most people would be able to tell the difference.... Personally I can't between a 180* or a 170*, the heat is still very hot.
More engine wear? Not in the oil analysis that I've seen but there is a sound theory behind this, I've just never seen any evidence of it with our thermostats. At any rate detonation is far more dangerous for your engine.
Low coolant temp engine code? Not typically with our 170* thermostats, tuned or not. I'm not saying it's not possible but I've never had a customer come to me with that issue. I did see a post somewhere saying somebody knew somebody that had a problem but I can't be certain what product the 3rd party was running, he did not contact me.
Higher emissions? Possibly, but plenty of vehicles have passed California emission tests with our thermostats (however not technically legal for street use in CA) which are some of the highest standards around.
If your fan is running all the time or excessively then the fan settings are too low and this should be addressed by retuning.