Transmission Temp... What range do I want to be in? -High Stall Converter

Just rebuilding my 727 and adding a temp gauge while I'm at it. Wondering a few things:

1. Where to locate the temp sender.
2. What should I expect/want to see for temp readings
3. How much is too high?

Mechanicals on this car are pretty much as I bought it a year and a half ago. Now rebuilding the tranny.
I have a 340 with a 508/292 cam, 10.5:1, J heads with 2.02 valves. M1 intake, 750 dp, Dougs Headers

Tranny is a 727 manual reverse valve body and has a 4000-4400 stall (according to previous owner) 9 inch converter.

I would like to keep this combo, as it performs very well. They were mainly drag racing it with 4.56 gears. I mainly street drive it and have switched it to 3:73 gears.

I bought lots of good parts for the tranny (red clutches & bands, billet servos, accumulator, bolt-in sprag, etc.) and also am adding a deep aluminium pan that adds 4 more quarts capacity and I also have a good sized tranny cooler up front.

So back to my questions... From reading/searching, I see some people mount the temp sender in a block coming out of the cooler line output to see highest temp coming from converter and some mount them in the pan.

In either scenario, I am wondering what kind of temp range I want to be staying within to keep from overheating and tearing things up prematurely. I realize the temps will be quite a bit different depending on where the sender is mounted.

I plan to stay with this high stall converter for now at least but want to closely monitor the temp so if it appears to be getting too hot with that converter I can change that to a lower stall one before I put too many miles on it.

Hope my questions make sense, I usually like to drive the car pretty hard and have fun more than just cruising around on a Sunday and I do plan to take it to the track this Summer to see what it will do.
Previous owner claims it was running 11.90s with good slicks and the 4.56 gears when he parked it 8 years ago (no time slips). I'm a little skeptical of that number but still very curious to see how she'll do. - '67 Notch.
I currently have a set of 295/15s on the back but would like to get a set of rims & slicks for the back for track day(s), whenever that time comes.

Thanks for any insight!

-Doug