[asshanson]

Oil can take a lot higher temps than that, and unless you're just racing, the 20w-50 would be useless. Get a good 5w-30 (or 5w-40 if you insist on the heavy weight). Redline motor oil is very good, but expensive ($10/qt).

Edit: there is no way the water pipe is just blocked off. Maybe the turbo water lines are blocked off, but not the end of the water pipe. I can't even see how that would work.