Originally Posted by
boneshaker78
...The brakes have all sorts of play in them when mounted on and using them like this doesn't seem like a good idea.
I'd give the brakes a try first. If they stop OK and don't chatter excessively I'd give them a go. Most of the braking stress in the front is taken by the bolt head and washer, and the bolt reinforces the stud, so as long as the arms don't move around too much they should be fine. I wouldn't expect any sudden failures due to the worn studs.