When I bought my '76 back in November, the temp gauge didn't work at all. I suspected the sending unit, so I bought a new one at O'Reilly Auto Parts. I replaced it, and then when the engine started warming up, the gauge would peg completely out. It kinda freaked me out at first, but my dad used one of his temp guns and we knew that the engine wasn't getting too hot. I wound up having to get a second one from O'Reilly (free of charge of course), and now it seems to work like a charm.
Mike