Gents,
Thanks for your responses. Gives me a good lead in.
Finally got a replacement 3.0R radiator cap. They are unique, not like the WRX or any other Subaru. Had to order it in from Docklands and fitted late last week. It was not holding pressure and was borderline, so for $20, worth replacing just to see if it made any difference.
Well, it didn't!

Looks like them heads got to come off.
Confirmed again the same symptoms. Outside air temp was 14 C, IAT was 17 C, run was done up the Leongatha road from Yarragon, nice twisty, 2nd - 3rd gear, revving between 3000 to 6000, temp started at 94 just out of Yarragon and then climbed to 105 C by half way up the hill and peaked a 111 C. Once on top of the hills, temp came back to 89-92 C and remaiined that way while cruising back to Leongatha and then Melbourne.
Hit the auto brushless carwash at Dandenong and while idling, the temp again peaked at 110 C. Soon as I got out of the carwash and up to 80 again, dropped back to 90 C. Stopped at the lights waiting, hit 110 C, as soon as I got going, dropped back to 89 C.
I am beginning to think there is a latent heat build up that the car just cannot dissapate. Could it be related to the auto oil cooler? I went looking for the auto transmission cooler the other day and could not spot it. Is it integrated into the radiator? I would think not as it was supposed to be fitted as part of the tow pack. Where should I be looking for this item?
Also noticed today, on auto upshift, that the temp drops very quickly, almost instantaneously (too quickly for coolant/engine). Could this be a flow related problem? Water pump not so good at high revs? Air pocket in the water pump? Could it be a temp sensor problem?
Anyway, I am frustrated with the problem now and will have the heads ripped off, head gaskets changed and look to doing water pump, seals and all hoses and clamps while it is off the road. Hope this will rid me of the problem. Car is booked in to STi@Docklands from 5th July for a week (all going well).
I will give you an update after that.
Kind Regards,
Mark.