ARP Head stud nut clearance with valve springs

Yes, smaller. IIRC (and to say for 100% sure) that the 1/2 stud uses a 3/4 6 point nut and takes a 3/4 socket (that I'm sure of) and the 6 point uses a 1/2 socket (I'm pretty sure on that...that is the biggest it would be) so it's a pretty big reduction in diameter.

There are some heads that you have to mount on the block and remover the 3-4-5-6 exhaust springs to get them together. When everything is torqued, you put the springs back on. PITA but if you want to make HP it is what it is.
You can't have a 1/2" stud with a nut that takes a 1/2" socket/wrench. Per ARP's catalog their 1/2" 12-point nuts take a 9/16" or 5/8" socket.