Jim
The rotors were riveted to the spindles and front hubs then turned as an assembly to produce -0- runout. This worked great until someone removed the rotor to replace or face on a brake lathe. When the new or refaced rotor was installed, usually runout wasn't checked, and brake problems developed. Been like this since 1965 with a lot of people not understanding the system and what may happen with it. I have run stock lip seal calipers for 35 years without issue as long as the runout is under 003" and the bearing endplay is setup between 0015-002". If the car is put in storage for 3-6 months the brake fluid should be replaced when you pull the car out.
For replacing your rear stud you should be able to pull it in with some lug nuts,the rotor should be removed. Mark the position so it goes back on in the same orientation. Center punch the rivet head, center drill it, 1/4" drill about 1/4 deep, then 5/16 same depth, this should put the hole deep enough to be past the thickness of the rotor head, then use a cold chisel across the rivet face to split it and it will come out. When all the rivets are out, be sure the parking brake shoes are collapsed and the rotor should come off. The rivet bodies will still be in the spindle flange so you can either drive them out or just grind them down flat to the flange. I wouldn't hammer too much on the spindle, when ever you rebuild the T/A then the rivets can be removed. When I rebult T/A's I tap those holes and bolt on the rotors to dial them in. Take a 2" emery wheel on a 90* die grinder and dress the area around the holes on the spindle and the inside of the rotor hat. Replace the stud and be sure to check the rotor runout when you install it, before you install the caliper. Over 005" you should address it. Under 005 or as mentioned under 003" is what you want. Deglaze the rotor face with a 100 grit D/A and wipe it down with brake cleaner.
Gary