Last but not least I believe I'm having an issue with the heater control valve. Usually on the first run of the day the coolant temp will spike all the way up as soon as the car is warm. If I flick the lever on the dash back and forth bewteen heat and AC a few times the temp dives back down quickly. Should I replace the heater valve or is there something else broken
That sounds more like a thermostat issue to me. Heater control valve only has to do with whether coolant is routed through the heater core.
My 84 spikes up above middle of gauge then goes back down once the thermostat opens. I think what you are doing with the heater control levers is just coincidental to the thermostat opening. What happens if you don't flick the lever? will the temp go down on its own? If so its just the thermostat doing its thing.
Just my humble opinion, I am not as much of a gearhead as many on this forum.
Steve