Installed ARP studs. Should we align bore??

You need to at least check the main bores to see if it needs to be line bored or not. Typically with studs and especially with ARP fastners with their moly lube you get a much higher clamping force for a give amount of torque which can cause the bores to distort.

When I built my 360 I used ARP bolts instead of the stock bolts and the machine shop checked the bore after torquing to ARP's specs and there was no distortion and I did not need to line bore.