Those studs are manufactured of mild steel and have a certain amount of stretch designed in. I have never seen them break... generally will corrode away first from water damage. Replace them if pitted or excessively rusted for sure.
On the newer air-cooled models (with much smaller diameter studs), Lister recommends replacement at overhaul time... but again, not something I have ever seen fail.
As far as cast-iron threads are concerned, if in good condition - clean and complete, then no issues. The cast iron will hold threads quite well for a lifetime and only need to be cleaned or chased at rebuild time as you have mentioned.
dieselgman