You don't NEED ARP bolts or studs... the OEM Toyota bolts are VERY strong and very durable... and they're reusable. No promises about off brand OEM replacements though. It is my personal preference to replace 20 year old fasteners though.
Unless you're doing a massive build I wouldn't worry about studs over bolts. Studs torque more evenly and there is less trouble with stiction while installing. Most people say you needn't worry about retorquing studs as you do with head bolts, but I strongly recommend it with any new fasteners.
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