I think I solved part of my confusion on this thread by doing a little research on FABO and my factory manual on the Kelsey Hayes Disc Brake Hub . Apparently the studs for the KH hubs are not swedged and are just held in place by knurling and a press fit shoulder, and it is perfectly OK to just press the studs in and out
KH Hub removal ? My 68 factory manual seems to substantiate this with instructions to press wheel studs out and in for the disc hubs. Below I have a pic of couple original KH studs (actually have KH imprinted in the top of the stud) from a KH system I purchased several months ago. I don't think the knurls on these qualify as swedges?
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The OP was removing studs from a front drum that are certainly swedged. I am still a little unclear how you remove the swedge on these front drum studs with a die grinder or swedge removal bit without burrowing into the hub. Very carefully I guess.