With the gauge package, do you have an idiot light with the Temp gauge or just the gauge? If not, adding a light with a seperate sender may be an option.
I just replaced my mech gauge, and you are right, you need a big hole in the firewall. Especially sux if you already have wires through the same hole - you can't take all those out, run the sensor through, and re-run the wires. Well, I guess you could if like self-torture. I personally like mech better.