Just an update, I've got more info that may help someone here...
I began "pressing" the rotor over the shoulder of the studs by tightening the lugnuts in a star pattern. This was obviously the shadtree method, but it was also obviously working. I was able to completely close the gap but there was an ever so slight "wobble" when I spun the rotor. I figured any wobble large enough to be perceptible to the eye might be catastrophic on the road so I decided to have the other one done by a machine shop, and while they were at it, fix the first.
One or two of the studs had some threads that were gnarled up a tad (how many times do you think the wheels were pulled in 39 years?), and another stud was slightly loose. I figured I'd just replace all ten of them like I chose to do on the rear when I bought new axles. I went down to the local parts store and they had the correct part but they wanted $9.25 each for them, another parts store wanted $12.55 each...!!!!!!!!
I bought a set from NPD for $1.25 each and took them to the machinist for replacement. It cost me $20 for the labor but they found that on the one wheel I used the shadetree method on that I had "wallowed out" the holes in the hub, not badly but just enough where it only took about 25 pounds of pressure to seat the new studs. The only reason I'm posting this story is as a warning that this method might not be the best or safest route, think twice before you try it, YMMV and all other disclaimers apply. These wheels are holding your life, I would not advocate the easy route when it comes to your safety, safety is why I am putting 13" Cobra brakes on her in the first place!
Anyhow, I've been sidelined on my car for some time now, real life has gotten too hectic lately and the heat is about too much to bear for working in the garage. I'll remember that when I am in shorts and a T-shirt in December working on it while some of you have your's winterized
I am hopeful to get the brakes done on the upcoming 3-day weekend and post the write-up I promised to do, plus pictures of the studs/hubs and how the old versus new ones fit on the rotors.
Cheers!