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...Also when errecting these engines with block and tackle the studs would take the weight of the part as soon as it was engaged on them rather than having to finely adjust a parts position while trying to line up bolts even with the use of a podger....
Benefits for studs are that they are stronger than the same size bolt, and that over torquing doesn't result in breaking off inside the threaded hole.
If you torque a bolt to failure then it breaks from twisting the shaft. If you overtorque a stud to failure the shaft doesn't see any twist.