Id say your radiator is blocked. As i had exact if not very close to the same problem in my ae82.
Get a new radiator off ebay. Exact swap . Link: http://cgi.ebay.com.au/ws/eBayISAPI....m=170183702353
Heaps cheaper than from a local place too! Like about 200 cheaper.
I have just replaced mine and it never gets over the letter T on temp. I installed a new toyota thermostat at the same time too.
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