My first response would be to tell you to search, but I'd say ARP is littered in about every thread on here, so gleaning any useful info from them will be hard. A better buy price wise would be the bolts as they are slightly cheaper. Studs are the better choice though because they distribute the clamping force more evenly and can be torqued to a more accurate value. The proper torque for them would be 81 ft lbs with ARP moly lube.
ARP bolts are easier to install if you are doing this job with the engine still in the car (this I don't recomend if you are going MHG as you will have to pull the block and have it machined to the proper RA spec along with the head for that respective brand MHG you would go with. If you're doing the MHG, use studs, if you are doing a stock composite HG, then bolts will be easier to install while the engine is in the car. It's difficult to install studs with the engine still in the car because you have to take off the head, install the studs, then sit the head back on to the engine with the firewall being a PITA.