My brother's Corvette has an oil temperature gauge on the DIC. There is no relationship between oil temperature and coolant temperature in his car. The biggest factor on oil temperature is engine speed, again, at least in his car. Loping around in traffic, the oil doesn't really go over 130-140*F (similar to jigen's experience). But drive a steady speed down the road at 3,000 rpm, the oil temperature will begin to climb, and can reach 180*F or more. Slow the engine speed down, and the oil temperature will fall back down. All the while, coolant is maintained at the temperature set by the thermostat.
Again, his car may be different; there may be an external oil cooler. In a car with no oil cooler, the oil may stay at an elevated temperature once warmed up.