The expansion bottle will get hot - perfectly normal.
As for the hot engine - suspect the thermostat may be sticking.
As long as the cooling fan kicks in - usually around 98 degrees should bring it back down.
Oil level wont have any effect on engine temp unless it is below the min. mark in which case you would probably sieze the engine - so keep it above the min. mark.
If it accelerates slower when the engine is hot - this again is normal - the engine management retards the iginition at higher temps.
If it does it at normal temperature - take it to a mech head and get him to have a look at it.