I have a 20+ year old Magic Chef gas range with a faulty oven temperature readout. Broiler works fine, ignitor works fine, flame comes on fine, oven heats up, but the electronic temperature readout climbs very quickly to the temperature we have preset for the oven so the flame goes out and we never get above about 125 degrees. For instance, I set the desired bake temperature at 400 degrees with the oven door removed. Temperature readout showed the oven reached 400 degrees within 20 seconds of the oven flame coming on!

I removed and checked the oven sensor and it read 1100 OHMS at room temperature so it appears to be OK. Is it possible that even though the sensor tested OK, it is still defective? Or is the control panel? Control panel replacement ($200+) would be way too expensive for an oven that old so I would just buy a new oven.