I am running a 2056 with a Raby 9550 cam and tuned stock FI. All tins are installed including the warm air guides and the bellows/flap work.
With an outside temp of about 60 deg. The cars oil temp is running about 185 F. I double checked my oil temp with a seperate thermocouple and it measured 87c (about 188F). This is after 25 miles of of driving.
A friends car seems to run about 20-30 degrees hotter (he has a stock 2.0)
Are my oil temps too cool?

No

...With an out side temperature of only 60 degrees it,s seems ok...naturally you need to keep checking as the ambient -temperature outside goes up.That is if the damn winter will ever end. Another factor in oil temperature will be the -Weight oil you use.10-w 40 -v/s 20 w 50.(example)....The most Ideal temperature of all is just over 212 degrees.(some say not more than 230 degrees). In this range water in the oil/condensation in the crankcase/etc will vaporize into steam. leaving you with great lubricating oil wihtout/ minimum /oxidation. keep your O.E.M .crankcase breather system in tip top shape to enable evacuation of moisture/volitales/airomatics, from the combustion processes....M.M.

Your oil temp is OK. The car looks kinda cool though.

I am using Brad Penn 20w50 oil. I have noticed some "white" gunk on the inside of my oil fill cap. One of my worries is that any water is not evaporating from the case.
thanks
-Rob

Do you have a thermostat installed? 25 minutes isn't a long time if you're driving lightly.

Yes, the thermostat is installed and working. The 25 minutes is at freeway speeds i.e. 3500 rpm. I don't tend to drive much further on a regular basis.

The white stuff on the underside of the filler cap is just condensated water vapor.

If you are at all worried that you aren't getting the engine to the proper operating temp, just keep the rpms below 4000 until you get in your 180 range.

You're good. 180 degrees is the magic temperature for dino oils and their lubricity, and water evaporates just fine at that temperature. Consistently starting and stopping before the engine is fully warmed up however will eventually kill your motor. You might wind up with a smoky-teener with tired piston rings.

....Yep........the white stuff is water/condensation., and ideally should not exist. what you could do is wipe off the "white foam" with a clean paper towel.Then after driving it , normally as you have, let it IDLE and while it,s still running remove the oil filler cap and watch the moisture evacuate.do this until the vapor subsides.repeat process until happy....alternately you might change engine /settings/adjustments to build a little more heat.Cylinder head temp.guage recommended, use of highest pump octane recommended.etc.etc.