I recently replaced the water temp sensor (broke the lead off during tranny removal) and now my temp guage reads hot. When I first start the car, the needle moves to what used to be normal operating temp and then moves to about 7/8 of the way up the guage and stays there.

Is there anyway to reset/adjust this without removing the cluster? Will reseting the ECU take care of the problem?

 

temp gauge sending unit should read about 140 ohms with engine cool and approx 40 ohms engine fully warmed up [fans cycled]
You could also check that the wire going to the sender isn't grounded as that would also cause the gauge to mis-read.
Resetting the ECU will do no good

 

sounds like you may have gotten the wrong sending unit. Like hondadude said, ohm it.