An OEM head gasket will hold a good bit over 14psi IF the block is WELL prepped and no shortcuts are taken. The best metal head gasket on the market won't hold crap if the block isn't well prepped (see: smoother than glass... not a joke), or if it is mistreated (for example using most brands of head gasket dressing on a newer Viton coated gasket is a recipe for a blow out).
The OEM head bolts are pretty close to just as strong as the ARPs, but unlike the ARPs they don't publish the specs. They're also (just like the ARPs) reuseable.... I just prefer to replace 20 year old fasteners though.
The head and block use alignment dowels to ensure everything stays in place as you install them; Studs are no substitute for this as there's a big gap all the way around each of them. There's nothing wrong with putting in studs after the head's on... actually, if the block is still in the car it's the preferred way.
Stripping the threads out of the block isn't really a consideration with these blocks and if you have to replace the HG again in the future you'll still need to remove them in order to clean and prep the block deck.
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