You may be on the right track with the o/heat stat but if that's the case it could be over heating, not a faulty stat. It may be that the gas pressure is incorrect or the burner is not dropping to low flame.
You need to check these things first and then log what was happening just prior to the pilot outing. Were you running hot water? Full bath or just a little in the sink? Is the temperature control on the panel set too high?(by the way the 1-9 control is only for the heating not the water).
No point replacing more parts until you're sure what's going on.
T.h.s
June 2007