I think the heads on these engines already have the threaded studs, not 100% positive about it, but pretty sure. Maybe someone else on this forum knows that for sure.
If you over tighten the rocker arm nut you will cause the valves to hang open, this can cause some serious damage to the valve train, such as bent valves and bent pushrods as the valves could make contact with the piston on the compresion stroke and exhaust stroke. Check the adjusting nuts, they should be hard to turn even with a wrench, if not then they need to be replaced. The nuts are the prevailing torque type. I have never had a problem with the OEM nuts on any Chevy I have owned and I have had a lot of Chevys over the years. The areas that I have had problems with in the valve train with the small block chevy engine has been the camshaft itself. I have replaced 4 camshafts in various Cevys I have owned over the years, one of them was a small block Vette. The lobes of the camshaft sometimes begin to wear down and become rough, I even had one chew it's way right through the bottom of a lifter. Once this happens the lifter can no longer hold oil and then it cannot be correctly adjusted. Maybe you have this problem. You can check for this condition by rotating the engine by hand while you have a dial indicator mounted to read the amount of valve lift at the pushrod bulge on the rocker arm. There are specs for the amount of lift your cam should provide for intake and exhaust. Check each valve through a complet rotation of the crankshaft. The lift for all of the intake valves and the exhaust valves should be very very close to the specs for your camshaft, if not then you may have a problem with the camshaft itself. Your valves must first be in proper adjustment for the lift readings to be correct.