I've just replace thermostat for my E36 323i year of 1997, but I used 71 degree thermostat. What is the standard temperature? is it 92 degree? what if the consequence if I used below standard thermostat 71 degree?

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A lower temperature thermostat will allow it to open sooner and the car will run cooler. This may cause you engine electronics to run richer. Typically lower thermostats are used for towing since the extra load will increase engine temperature.

- Kerry

I am really surprised that you found a 71 degree thermostat that fit. I don't know for sure what the effect will be because I have never heard of anyone trying it before, but running that thermostat is almost the same as running no thermostat, which is known to cause poor fuel economy and performance.