Me and my son are currently working on rebuilding the engine from our 89 LX. I was reading that it's a good idea to replace the main and rod bolts while you have the bottom end apart, so I planned on replacing the stock fasteners with ARP fasteners and then having the rods and mains align honed. I'm just wondering if it's worth the extra $15 to use studs instead of bolts on a stock engine.

there is. Studs are always easier to install than bolts. Worth the $15 in my book right there. Studs build confidence in the assembly process. But yeah, there is no strength reason to do them. All my engines have factory main bolts.