I never really understood the temp gage. I think, if you are chilly, put on a jacket. You need a gage to tell you that?
So I installed an oil temp gage....and I found out, "You know what? My bike never over heats."
Agree with you themensh, don't need a gauge to tell me the temp inside, I can tell cause I am on a bike, it's really just telling you the temp in the fairing, mine shows 10 degrees hotter than actual outside temp. Since touring bikes are prone to overheat in traffic, I think it is good to know the temp so you can shut her down if you must. I plan on replacing the air gauge with an oil gauge, when I upgrade the speakers but that's just me.
If you ride year round the temp gauge will show when the bridges start to freeze. Mine works right below 65* and about 10*+ above 70* or so.
As long as the sending unit is inside your fairing, the temp gage will indicate, if it's accurate, what temp it is inside your fairing. At what temp inside your fairing do the bridge decks start to freeze?