The system I'm modeling after has two temp controllers, one in the HLT to control the element and one in the MT to control the pump. Now I'm second guessing the necessity of the second controller. Maybe it increases the life of the pump *shrug*
On his demo unit he had a heat well on the side of the MT but like you saw online the sensor dangles (alligator clipped to the thermo probe) in the HLT.
Ranco actually sells a heat well...$22 I think, but it is attached to a stopper. Not sure if Weld B Gone makes one large enough for the Ranco...