When installing the 160 degreee thermostat do you need to do anything with the computer and is it a pretty simple job?

 

Simple job, but won't do much in regulating temperature or increasing power. Getting your car programmed for the fans to come on earlier is much more beneficial.

 

He does not lie...Have fans come on earlier, that's what helps anyway...

 

A 160 stat with stock fan settings won't do anyting for cooling in heavy traffic or at the track. It will basically heat up as it does stock.
HOWEVER, as long as the car is moving sufficiently to keep the air going over the radiator, the engine will operate at a cooler temp. This is a good thing.

Reprogramming the fans is good, but your other option is a fan switch.