Interesting thread and some of it very entertaining, laughed my socks off at some of the comments

I hope this radiator lasts a long time but in case it doesn't a few comments that might be useful... or maybe not.
Some fundamentals seem to have been overlooked, or not understood at all. The coolant system is pressurised by being filled when cold and as it warms up the water expands causing pressure in the system. The pressure in the system is controlled by the design of the header tank pressure cap which, according to the Lotus Service Notes, is "110 kPa (15 psi)". Actually 110.3 kPa is 16psi and I have two Elans and a spare header tank and all 3 'black' caps are marked with '120' so reckon that's 120 kPa so probably closer to 17.5 psi. Water at 17.5 psi above atmospheric will get to around 123C before it boils and 15 psi above will boil at 121C so only a marginal difference anyway. (I have a feeling that yellow caps are a different pressure but hopefully somebody can confirm or correct me on this...)
The header tank on my 'daily use' Elan had gone opaque and had an antifreeze 'tide mark' so I couldn't see the actual water level so before swapping it with the more transparent spare I'd acquired I tested the spare. I bunged up the big outlet tube with a wine cork and put a tapered (airbed) inflator into a mains powered car tyre pump with gauge and pushed that into the smaller top tube to pressurise the header tank. Gauge was showing midway between 15 and 20 psi graduations when cap started hissing and gauge stayed at this position. I put the header tank into a bucket of water to check for any leaks from the seams - none. With the pump on a stream of bubbles came from under the pressure cap but none from the tank so tank was 'a good 'un'. I also tested the other pressure caps while I was at it and all operated around 17.5 psi. I should add that the mains powered pump has a considerable flow rate and the pressure caps had no problem 'dumping' all the excess air above their setting.
So, to the previous comments... Pete's Blue Sky Thinking about skimming the head having a detrimental impact on coolant pressure

Too much vino Pete! Can't understand the logic behind that at all.
Max's suggestion that cracked heads or HGF over-pressurize the coolant system and radiator... well, a major failure between the combustion chamber and coolant system will pressurise the cooling system on the compression and power stroke but on the induction stroke the cooling system will 'blow back' / get sucked back into the cylinder and you are bound to get water into the oil and 'mayonnaise' on the dipstick, as well as steam out of the exhaust. If that cylinder is leaking into the coolant it will run badly too so engine will feel lumpy. A quick compression test of all 4 cylinders will tell you if anything is amiss in that department. The rate at which I saw air passing out of the pressure cap I doubt it will get much above 'the cap pressure' anyway, but may expel coolant as well as air so another obvious sign that things are not right.
The comment about 'the electrolysis scenario' I find interesting as an electrical power engineer... Cathodic Protection uses a sacrificial anode but the anode has the positive charge, the cathode is negative. Cars and motorcycles used to have the battery positive earthed until Ford realized that arrangement increased body corrosion and swapped to negative earth in the mid 60's, if I remember correctly. Other manufacturers then followed. Elan chassis is negative earth, so is the cathode, and anything connected to the positive would be the anode so there is a logic behind that suggestion. An engine without an earth strap might show a positive voltage with respect to the chassis.
It may be worth checking that you do in fact have an engine earth strap connecting engine to chassis and earth. If not, fit one quick. Without one the current from the starter motor can find some very strange return paths. Whether the radiator could be one is not something I've thought about but I had a friend in the mid-70's bought one of the first Vauxhall 'Shove its' (he called it a Chevette) off the Luton production line - basically an Opel Kadett with a new front end so it had a live rear axle with coil springs and panhard rod. My friend had 4 rear axles in the 12 month guarantee period. New axle would be quiet for a month or two and then start whining and develop a lot of backlash and there was a lot of swarf in the diff' oil. As he bought from a dealer in Stevenage the dealer got fed up fitting axles and took it back to Luton for the factory to check it over and they eventually found it had no engine earth strap. The big issue was current taken by the starter motor was going down the prop shaft, through the pinion and crownwheel, through the bearings into the axle case and via the coil springs to the body. Sparks across the teeth of the pinion and crownwheel was making tiny 'spot welds' that took the hardening off and pitted the teeth so the diffs weren't lasting. An engine earth strap cured the problem and the next axle was still on the car when he sold it.
If you do have an engine earth strap correctly fitted you can forget about 'electrolysis' and stray current theory.