Well, replacing the thermostat didn't make a difference. Only other guess I have is the radiator cap. When I opened the radiator while the engine was still pretty warm I didn't notice any pressure release, so maybe that's it...
A bad cap can also cause overheating. If not mistaken, 13 psi is standard.
For every 1 PSI the boiling point is increased 2 degrees. SO at 13 psi you are raising the boiling point 26 degrees, if IT did not pressurize with a normal running of the engine then it could be part if not the entire problem.
You said you checked belt tension, you should not be able to spin fan without engine turning also
(engine is hard to spin - but will move with proper tension)
Something else to do to, cheap and can be effective. Empty contents and fill with 1/2 gallon of good old white vinegar add water to full - run until hot, empty, and repeat with other 1/2 gallon of vinegar. After the second running empty again and flush entire system with 100% water, and repeat that again.
the vinegar being a mild acid will eat away at the scale and other build ups in the block and head and radiator. You will be surprised at what comes out after the first pass through.
On cooling - a 50/50 ratio is typical - because most "people" can do the math easily! A better cooling solution is closer to 70/30 water to EG, as meanjean pointed out - water does a MUCH better job of cooling than EG, however EG does lower and raise the freezing and boiling points far better than water.