I'm seeing exactly the same thing. My E0 has 37k miles on it. I recently flushed/filled my radiator and changed the thermostat, but the gauge still won't rise above "N" or "O".
I suggest turning on the heat every so often to ensure your water pump is at least semi-functional, and make sure your coolant level is OK. If you change your sensor and start getting more mid-range readings, let me know!!!
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Garrick
Silver E0, #3895 of 6535, built 10/2/97
She's stock. Why mess with a good thing?