I'd leave dash original. To be honest you would probably see the light before a creeping needle during an overheat.
I would definitely leave the dash alone and not cut it into it (no room anyway).
With the new engine, the temp gauge would just give me some piece of mind as I break in the engine.
My thought was since the engine has the temp sender and wiring to the light, I could even just temporarily add a guage - my assumption is that the sender for the light would be correct for a gauge and I wouldn't need to switch sending units (not sure if that is true though).
After researching trim gauges and the sending unit required, I am thinking way too much hassle to add sensors, senders etc...
Lastly, in terms of the temp light, should it come on when the key is turned to the on position like the oil light? The bulb may be burnt out since it doesn't come on with the switch in the on position.
Bob