Here are my suggestions:
1. Make a simple, temporary catch can. Get a 1 gallon jug...tuck it behind the headlight, cut a hole in the cap big enough to slip a tube into it. Punch a small vent hole in the cap so air can move in/out as the jug fills/drains. Get a length of tubing and run from the overflow nipple at the filler neck and make sure it runs all the way to the bottom of the jug. Fill up the radiator and go for your 10 mile drive. While hot, check the jug and observe the amount of water in it. Let it fully cool and then check the level in both the jug and in the radiator. If needed, add water to radiator and note how much is needed to completely fill.
If it's pushing water out the overflow, it will be in the jug when engine is fully warm....once cooled, it should be pulled back into the radiator. If no water ends up in the jug but it's still a gallon low, it's using water...most likely through a crack or head gasket. If a relatively small amount of water is needed to top off after it cools down, it may have pushed out more water than the catch can could hold...returning to 50/50 mix should cure that.
2. Replace the thermostat....no reason you can't use the same restrictor plate/windsor stat you have now, just get another one installed....or re-test the one you have. Don't use a heat gun because you can't control the temperature (but I think you know this by now).
I've never experienced the backwards head gasket thing, but I'm beginning to suspect this is the cause of your gurgling or knocking sound and may also be the reason the previous owner ran w/o a thermostat.
If you want to be certain there isn't a head gasket or cracked head, they make a test kit where you suction gasses from the radiator while coolant is circulating (in your case, you'd have to remove the stat)....the suctioned gasses are pulled through a test liquid....due to a chemical reaction with combustion gasses, the liquid will change color if said gasses are present. I have a kit in my tool chest...I can get you details on this kit if you're interested....I suspect the auto parts stores may have one you can borrow....but you'll probably have to buy the test fluid.
Thanks to everyone for all the help. I am going to try the following.
1. enlarge vent hole in aftermarket aluminum restrictor plate.
2. Install a temporary catch reservoir
3. purchase the test kit for combustion gases.
I'll report back with my findings
Yesterday, I installed a temporary one gallon container as a coolant recovery reservoir. After driving the car about ten minutes, and making two stops, I inspected the temporary reservoir. It indeed had water that had overflowed into it.
When I arrived at home, the amount of water in the reservoir, equaled what was missing from the radiator.
I also enlarged the bleeder hole on the aftermarket restriction plate using an 11/64" bit. I don't know if this did anything to help the problem of what I described as a knocking sound.
The final thing I did yesterday, and again today, was to test the radiator for combustion gases, using one of those kits that the fluid changes color. I'm sorry to report, that the fluid changed from the color blue, to green. The instructions indicate that for a gasoline motor the color change should be blue to yellow. My thought is that any change from the color blue is not good.