you say it has a dial, so I expect it looks like this
They have a bit of slack between the on and off positions (digital stats are more precise*). So if you set it to 20C, it will maintain a temperature between about 19C and 21C, or possibly between 18C and 22C. Depending on the size of your radiators and how well insulated and draughtproofed your home, it may take half an hour or so for the temperature of the rooms to settle down. The more often you fiddle with the stat, the more often you will feel too hot or too cold.
If it is close to a radiator, then the warm air from the rad will heat it more quickly, and it will turn the heating off until the radiator has cooled down. This is undesirable.
Larger radiators, and a boiler set to a lower running temperature, tend to maintain a more even room temperature.
TRVs can be fitted to radiators to prevent individual rooms getting hotter than you want. The radiator in the room with the wall stat should not have a TRV, and should be adjusted to warm up slower than all the others, or the others will never get warm enough.
I am not very keen on wireless stats as they have extra potential points of failure. They are however quite quick to install as they do not need wiring to the wall.
*if you decide to change to a digital wall stat, get a Honeywell CM907. It will almost certainly connect straight onto the wires from your old stat with no other changes needed, and it has numerous other advantages as it is programmable. The cables to a wall stat carry mains voltage so power must be turned off before starting work.