I prefer studs, less chance of messing up the threads in the block, or distorting the deck while torqueing, because those threads are stationary during the process. Nitrous with aluminum heads, for most of my combos.

We had to toss a 400 block away after the 3rd or so re-build with ARP bolts because it wouldn't hold a head gasket any more. The deck was pulling up at the headbolt holes. Granted, it had been heavily decked, and sprayed mercilessly, but I always felt studs would have prevented the problem.