JA, I haven't had trouble holding temps. I can hold anywhere from around 1500F all the way up to 2300+F (which is as hot as I've had it). It actually seems harder to hold the lower temps because there is such a small difference between hi and low stages, and it's difficult to get a slightly reducing environment at low temps. I forge in the 1900-2000 range, and once it settles down, it will hold within about 10F. It does tend to drift a bit over time, usually towards a lower temp, so an occasional slight adjustment to the needle valves is needed to keep the temp up (maybe once every 10 minutes).
As for the TC, it enters from the side of the forge and projects into the chamber about 2-3 inches. I'm not using the forge for heat treating, so I'm terribly concerned if the temp is exact. However, it seems to be pretty accurate as to general chamber temp, and it is very responsive.
Deker, I'm eager to see that thing tuned in. What a beast of a forge!!
--nathan