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Studs all the way. Makes changing the heads a little more difficult since you have to raise them a little more to clear the studs, but the mild additional effort is worth it.
Studs, they are more resistant to pulling because.......... they spread the load to the end with the nut and the other end of the stud that is threaded into the block, so the load is 50-50 on each end. Head bolts place all the load soley on the threads that are in the block.
You use the same torque pattern as factory, but not the same method.
You don't use the torque angle gauge.....because the factory bolts are stretch to yield . Use the standard torque wrench for the studs.
I have a set of ARP LS1 head studs that i can't use with my 04 LQ9 block. They are brand new. These are the 6-point nuts ARP part number 234-4110. Will sell them for $200+ shipping if you are interested.
I have ran 2-3 of them into the block by hand and quickly noticed the 7" studs were way too long. I then did some research and found out the 04 castings were changed to accept only 5" studs. This means I need a totally different kit. The studs have never been torqued and all nuts/washers/studs are in original packaging. It includes: four- 5" studs, sixteen- 7" studs, and ten- ~3" small studs with all nuts and washers and directions.