Rick, a few things I would point out.
Is it wise to not run the pump until the temps get to 140F? I would think you would want it on at all times as to not create hot spots. Remember, the temp gauge may not account for an unhomogenous water temp as the water is stagnent in the system.
Running a lower thermostat can, in some cases, make the temps run hotter. Try running a 180F thermostat. Burping the system can take some time so make sure the overflow bottle is in use so it can draw water back into the system replacing the air.
I would swap back the mechanical pump until you can isolate the problem.
BTW, did you have your butt dyno calibrated this year?