YES! To #1!!!!!
What I said above to #2.
What oil pan are you running? What is your set up like?
I don’t remember anyone having to modify a bolt, but yes to studs being modded.
Your oil pan is 8Qt.’s? And your run 7 in it?
Take 3 quarts out and pick up some HP, ET & MPH.
You have waaaaaayyyyy to much oil in there.