the head bolts / studs going into the corners of stock 302 blocks need thread sealant as they do go into cooling passages. i highly doubt the change in timing had anything to do with causing the bolt to break. if you were rattling the motor that bad due to detonation you would have ate the head gasket or a piston and not broke a head bolt. unless you started pushing a lot more boost i doubt the heads were lifting either.
I would try a easy out first and just replace the bolt. then pressurize the coolant system to make sure it keeps pressure. if you do decide to pull the heads go with studs and only have the heads decked if it is needed. as for what head gasket to use i would not use a mls gasket, just go with felpro 9333-pt1s.
Thank you great info and straight to the point thanks ..
Also I have built 8 5.0 mustangs and the only thing I have ever put on my head bolts were lube and I have never had any coolant leaks ..
I added over 5 degrees more timing and tightened the blower belt really really tight so who knows.. I have blown a head gasket before and its not blown the car runs 100% perfect and shows no signs of problems besides I broke the bolt and its dripping a little coolant through the bolt hole . Also If I kept driving the car after I seen the coolant leaking there would have been a 99% chance I would have warped the head but I had the car towed . I built the car and I'm very thank full for the info but I will fix it..
All your info is great and good but its hard to give me info without seeing the car and building my car . If the head gasket was blown the second I started the car in the morning it would have smoked like crazy because the cylinder would have been full of coolant and it started fine and did not smoke or poor water out the back.
But I might just pull the heads and send them off and have them CNC ported and buy a R block and build a 331 Im still thinking or I might sell the car and buy a 04 cobra ..
But all your info is great and I understand your all just trying to help thank you ...