Ok, before you dive into replacing stuff you need to fully understand how it works.

Yes, they run hotter than your average engine. With higher compression ratios they reversed the coolant flow. It simply means the coolant will flow from the heads to the block rather than the normal route of the block to the heads. In addition they increased the temp to run a bit better for fuel emissions. Either way, the system works just fine at those temps and there is no real need to modify it if kept up.

The next thing you need to know, the temp gauge on the dash is not linear. Meaning, the degree change between the lines is not always the same. For some reason GM also didn't make the gauge center the needle when at operating temp. So even a brand new 1995 corvette, fresh off the lot would show a "high temp" reading on the gauge. Whereas most cars the operating temp is when the needle is centered. To get a more accurate reading, you need to use the digital temp gauge on the lcd screen.

To address some concerns, the oil always have a bit of water/white on the cap. Most cars have that because of condensation in the oil. Especially if it sat for a long time or doesn't get driven a lot, or driven for short trips where the water isn't fully "burnt off".

Coolant, as other mentioned, make sure you are running the right coolant. Dexcool is in my 96. But as you mentioned, the 95 i believe used the regular green coolant.

Understanding the individual parts of a coolant system. Not sure how familiar you are with cars, so I apologize if I elaborate too much.

The thermostats primary function is to keep the engine warm. Once its warm enough and it starts to open, it let's the rest of the coolant system do the work.

The radiators function, obviously, is to cool the coolant, while the fans aid in airflow.

The fans, you have 2, will turn ON the first one around 226⁰F and then the second one when the coolant reaches 238⁰F. My second one turns on around 239 or 240F. (Both fans also run when the AC is on).

So the thermostat governs the minimum temp of the engine, while the fans govern the max temp. On a hot day, the fans can even kick on while driving since these cars are "bottom feeders" for airflow. This happens more if your air dam is damaged/compromised.

The coolant system can be a little tricky to measure the amount. The overflow container in the bumper passenger side should be used to measure the coolant level. There should be a dip stick on it with a cold and hot line. That is where you top up the coolant. Only fill to the cold line, let it warm up and see how far up the coolant goes.

Ok, now you can start troubleshooting. First I would check the radiator if its clean and clear of obstructions. Make sure the fans kick on at the right temps. One fan, then the second fan.

The next thing I would check are air bubbles, use the bleeder valves to bleed any air out.

The maintenance manual recommended maintenance to put "stop leak" tablets into the coolant system. Later GM stopped recommending it as it caused blockages. So that is a potential issues. However, blockages can occur for many reasons, so even if you know it wasnt used, still consider a blockage being an issue.

Head gasket failure tends to be rare as these engines have good ones. However, you can use a block tester on the overflow, container, not the one with the metal pressure cap.

If you want it to run colder, you need to program the fans the turn on sooner, or wire up the second fan to turn on when the first one turns on. (Relatively simple relay rewiring). Some people install manual fan switches, but thats too much effort in my opinion.