Adding a colder than stock t-stat does nothing without a tune. Actually, it does make the car warm up slower which is bad for short trips. You'll never burn off the condensation.
I would look at the fan controller, wiring, etc. When we had a fan go bad, it didn't come on at all, and made crunching noises when you rotated the fan by hand. I think it smelled burnt too, but that was a long time ago. Spin the fan by hand and see what it sounds like before ordering parts.
97 T-Bird LX 4.6 - 80k miles
94 Supra TT Auto - street/strip car
04 CVPI- Brenda's car - 76k miles
95 T-Bird LX 4.6 - fully optioned, owned 15 years, 220k miles
96 Cougar XR-7 4.6- Brenda's car, owned 11 years, 187k miles
88 T-Bird 3.8 - first T-Bird, owned 5 years, 206k miles