Please post a photo of your engine installation with good visuals of the hoses to the water pump.
Did you pull the pump to actually look at the impeller?
Also when the otterstat had the fan running did you physically feel the return line for noticeable temperature difference? I ask because I was surprised how much lower the return side is when the fans are running and the engine is idling. Low rpm water flow really allows the radiator/ fans to pull the heat out if the coolant.
In my case the otterstat side was to hot to touch while the return side felt like ambient temp.