Guys,
Thanks for taking the time to share your expertise and comments. The engine has approx. 60,000 miles on it, and there is no evidence of it being opened or rebuilt earlier. After removing the head there are no signs of unusual or abnormal wear (other than the two failed studs, of course). While a rebuild at 60,000 miles may be beneficial as part of a long-term plan, my thinking at this time is more short-term in application. Accordingly, I'll be looking at the methods of addressing this problem as mentioned by Bill and David.
Again, thanks to all as your suggestions caused me to reconsider my plans.
Dan