Having ran CHT sensors in various places over the years I have settled with running under the plug, the reading is more inline with standard quoted temp ranges, it also responds to changes much quicker than anywhere else.
From my experience I can confirm the info given here in this technical paper "ANALYSIS OF THERMAL LOADS IN AIR COOLED ENGINE"
The only difference I have noted is that on a Lambretta the temps under the plug at average engine load are around 175 degrees C and on the edge of the fin on the right side (chaincase side) of the barrel is around 75 degrees C.
On a Lambretta if you are getting close to 200 degrees under the plug your overheating and need to ease off, with the sensor on the fin it very hard to determine what temperature reading is a sign of over heating because there are too many variables effecting he temperature of the fin, these include:
combustion chamber temp (which is what your really interested in)
the ambient air temperature
the speed of the air flow over the head (changes with RPM obviously)
the size of the fins (the end of an Avanti head fin will give a much lower temp than the end of a standard head fin)
Squish (tighter squish will transfer heat more efficiently to the head than a big squish)
there are other many other variables too like engine load, carburation etc but they effect readings from the fin and under the plug, its just more noticeable under the plug as the sensor is as close to the combustion chamber as its possible to be.
This image is a great illustration of the varying temparatures of different parts of the head on a RUNNiNG engine.
running is important because lets say you ran an engine up to temperature and then turned it off and then took thermal readings from various places around the head and barrel, it doesn't take long for the heat from the hotter area in the combustion chamber to soak out into the rest of the head and give a pretty even average across all of the head.
thermalhead1.jpg
The trouble with CHT sensor rings under the plug on a Lambretta is that the ring, especially the flimsy ones you get with the sip speedo is hard to get under the plug due to the recess that the plug sits into in the head. To make them fit properly and not be eaten when tightening up the plug the ring needs to be loose on the plug so it doesn't turn as the plug is tightened and a small amount of material needs taking from the head so there is room for the part of the ring that the sensor screws or pushes into, depending which type of ring your using. This problem is the one reason people decide to put the sensor on a fin or on top of the plug, but doing so makes the CHT little more than just a gimmick as it wont tell you what you need it to tell you about how loaded and what temperature your running at. All you can use it for is to see if the temps are rising or falling but unless you learn to react to the rising quick enough its likely the engine is well into meltdown before you decide to ease off. I used to use my CHT in exactly this way and know its far too hit and miss doing so compared to using it as it should be used.