Not to get too technical, but just to reinforce what Chuckman said, a stud is inherently more stable and produces a more evenly distributed load and a more accurate torque reading. A head bolt has to be rotated to engage the threads and apply a clamping force. Since it has to be rotated, you induce two different types of forces into the fastener, a twisting force and a stretching force. Since the bolt has to react to two different forces, overall clamping force is reduced. Also, anywhere the bolt has resistance (engaged threads, washer under the bolt head, ect) will effect the final torque reading.
A head stud is rotated to engage the threads also, but it not applying a clamping force yet since you are only rotating it into the block and they usually only get finger tightened. Now, the cylinder head gets installed and the nut gets torqued on the stud. The nut now provides the clamping force instead of the torque of the fastener and any twisting force in the stud is eliminated entirely. The stud only stretches along the vertical axis instead of twisting and stretching as in a head bold. This leads to a more accurate torque reading, evenly distributed clamping forces across the head, and a higher capacity fastener.
Remember to always think of a head bold/stud as a spring.
In my experience, I had never needed head steads on a street N/A built 302, I have always used ARP bolts with no problems. If I was going boosted or extremely high compression, then I would look into head studs. But I haven't priced a set of head studs for a 302 lately, if they are anywhere close to head bolt cost, go studs.