That was with bias ply tires and brand new studs. Add radials and 54 years of use/abuse and torque cycles and it's a whole different ball game.
If the studs are in good condition they should be fine, but how can you really tell how many times they were over or under torqued? The more the extreme the application the more important the condition of the studs is. At this point in their life span the only real safe bet is to replace them, especially for higher horsepower applications.
Or actually check the torque on the inner lugs like you're supposed to. No, it's not convenient to check the inner lugs because you do have to remove the wheel, but that is in fact part of proper installation and maintenance. If you install spacers with their own set of lugs, you have two sets of lug nuts to torque, check and re-torque. That's the deal.
People like to blame the spacers, but it's almost always improper installation or maintenance that causes the issue.
