Head studs are nice, but they are not be needed at the HP level we're at. Plus, it makes pulling the head in the car a bitch since you have to pick the head straight up off the stucs.
65mm TB, it won't give you any HP improvement, but it will make the car feel much faster because its got a direct acting arm instead of the progressive setup like stock. I will hopefully be putting my 65 TB on once I get through this semester of school.
I agree the factory computer and head are the biggest restriction to these motors. A motor with nothing more than rods and pistons survived at 800whp for a long time. It finally broke on the dyno when an injector failed. But you'll never get anywhere near that with the stock electronics and head. The head can be ported and is good for over 400whp, but strongly consider an aftermarket EFI (even a $200 MegaSquirt) to take full advantage of this motor.