What is too hot for a flathead?
Too hot is the temperature that the water boils out of the cooling system. Any temperature up to that point doesn't hurt the engine.
At sea level without a pressure cap on the radiator that temperature is 212 deg. With a 4 lb. stock radiator cap, that raises the boiling temperature to 225 deg. So, anything above that would likely be "too hot" for a flathead at sea level, meaning that the water presssure would likely overcome the radiator cap pressure and boil out.
That boiling temperature decreases with altitude. So, at the elevation that I live at, 4,800 feet, the air pressure is only 12 psi. Adding my 4 lb. radiator cap, my water should boil out at 219 deg.
At the highest paved road in my state (Utah) - Bald Mountain pass - 10,715 feet, the air pressure is 10 psi. Adding my 4 lb. cap lets my water boil out at 210 deg.
At the top of Pike's Peak, 14,114 feet, the air presssure is only 8 psi. Adding the 4 lb. radiator cap will only keep the water in the radiator up to 202 degrees.
So, at the elevations that most of us live at we should consider too hot for a flathead to be above 220-225 deg. That being the case, I think we all have a much greater margin than what we think we do between what we think is too hot and what is really too hot. My temperature gauge is only 210 deg at the right side of the hot mark - still 10 deg. to spare at my elevation, 15 deg. at yours. So, when the gauge looks too hot, I'm really not; unless, of course, I'm on the top of Pike's Peak or maybe even Bald Mountain Pass. But, those elevations usually include pretty cool air so overheating usually isn't a problem.
Hope that helps.
My calculations made from data on this chart:
http://www.engineeringtoolbox.com/boiling-point-water-d_926.html
And this one:
http://www.engineeringtoolbox.com/air-altitude-pressure-d_462.html