PLT OF SMA DECLARES EMER AND MAKES A RETURN LNDG WHEN ACFT OIL TEMP GOES ABOVE RED LINE AND OIL PRESSURE DROPS.

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AFTER DEPARTING CMH; I PROCEEDED TO CLB TO CRUISE ALT (4500 FT). ATC DIRECTED TO RESUME OWN NAV. APPROX 5 MINS AFTER LEVELING AND TURNING ON COURSE (240 DIRECT DQN VOR) DURING ROUTINE INST SCAN I OBSERVED THAT THE OIL PRESSURE GAUGE HAD DROPPED BELOW THE GREEN ZONE AND THE OIL TEMP WAS OVER RED LINE (PLUS 245 DEGS). I REQUESTED AN IMMEDIATE DSCNT AND WAS GRANTED WITH PLT'S DISCRETION. EVEN WITH REDUCTION IN PWR AND ALT THE OVERHEAT SIT CONTINUED. I THEN DECLARED AN EMER AND REQUESTED VECTORS TO THE NEAREST ARPT. ATC INSTRUCTED ME TO CALL THE TWR UPON LNDG. THE EMER LNDG WAS UNEVENTFUL AND RESULTED IN NO DAMAGE TO PERSON OR PROPERTY. ATC REQUIRED NO FURTHER RPTS UPON SAFE LNDG. THE MECHS AT FBO INSPECTED THE ACFT AND DISCOVERED THE FINS ON THE OIL COOLER WERE WARPED/WRINKLED. LIGHT COULD NOT PASS THROUGH THE COOLER DUE TO OBSTRUCTION. THE OIL SEALS THAT FORCE AIR OVER THE ENG INSTEAD OF ESCAPING OUT THE TOP WERE OLD AND SOFT AND PUSHED BACK ALLOWING THE COOLING AIR TO ESCAPE INSTEAD OF COOL. THE ACFT I WAS PILOTING HAS A HISTORY OF MULTIPLE PROBS AND HAS BEEN WRITTEN UP MULTIPLE TIMES. I RPTED TO MY FBO THE NEAR OVERHEAT CONDITIONS I EXPERIENCED AT LEVEL/CRUISE ON A XCOUNTRY FLT THAT NIGHT. IT IS MY OPINION THAT THE ACFT WAS RETURNED TO FLT STATUS WITHOUT ATTN AND RESOLUTION TO MAINT ISSUES. THE ACFT HAS A NEW ENG; HOWEVER; SECOND FBO MECHS STATED THAT THE SUPPORTING ENG COMPONENTS WERE SUBSTANDARD. MY FBO ORDERED NO REPAIRS FROM OTHER FBO; ADD OIL AND RETURN TO BASE. I RETURNED TO BASE. MY EMER SIT WAS TOTALLY PREVENTABLE. AS A RENTING PLT I EXPECT THE PLANES ON FLT LINE TO BE FLT READY WITH ALL MAINT ISSUES RESOLVED. I NOW HAVE SERIOUS SAFETY CONCERNS ABOUT THE PLANES ON FLT LINE AT MY FBO.