So... I checked the rad - no sign of blockage. Changed the thermostat, started as normal - bleeding air with engine running etc.
The rad and bottom hose are now getting hot. But... as the temp guage started to go just over the middle (12 o clock) I bled the air again, and it was nothing but steam... Is this just something that happens when the engine reaches a certain pressure, or is this a problem?
From the sound of it the water pump bearing is making some crunchy noises, so I'll be changing that in the next few weeks - could this lead to the problem?