Unless your building a radical, high horse power racing motor I would use bolts because they make it a lot easier to remove the heads. ARP sells them, I think. This pretty much covers it. http://www.jalopyjournal.com/forum/showthread.php?t=309662
I always used the stock head bolts, with the stock heads. I think they work fine for most applications. I even remember reading about the threads on the bolt being special something to do with the pitch of the thread or something like that, realistically probably old, dull tooling to blame for that. That's why chasing the threads with a tap is discouraged. I remember also reading that metal properties of the steel used on those bolts exceeded grade 8 standards. Anyways, I always used that Permatex aircraft form a gasket sealer PN# 80017 and dipped my bolts in that stuff first to avoid any leaks. Lots to read on that subject alone. Brent
Reds Headers sells an ARP bolt kit and an ARP stud kit for flatheads. Different kits for different brand heads. The bolt kits are about $100 cheaper than the stud kits. I used his bolt kit and it is top quality. Heck, it's ARP. That says it all. Depending on your engine placement in relation to your firewall you may not have the clearance to use studs. If the firewall overhangs the motor, even a little, you may not have the clearance to lift the head up high enough to clear the studs.