I have a Lockhart cooler on the 400F with a Yosh 466 kit and Megacycle street cam. It runs pretty damn hot even with the cooler, I did a bunch of temperature tests years ago but the data is long gone. I have a bypass thermostat, Lockhart too I think, but have never fitted it because there's no space to do it that it wouldn't look goofy. If I get masochistic and ride in really cold weather I cover the cooler with a rectangle of cardboard, but I haven't measured oil temperature with and without it in cold conditions.
I have seen coolers with bypass thermostats built in. They are pretty bulky, not bad on a dresser Harley but I think they would look out of place on a CB.
A filter adapter with the thermostat built in would be cool... Terry? The Lockhart one I have has what looks like a small version of a car coolant thermostat, about 1.5" diameter, in a simple case with 4 NPT ports and would just insert in the lines to/from the cooler. The thermostat element would fit in an adapter if it was a bit thicker than normal but how much thickness is OK before the filter hits the tire/fender?