Hi, I've ridden for years, but not all winter which I intend to do this year. Here's the question. If I could only afford one Studded tire , should I put it in front or rear? Also, I've read that you should reduce air pressure to about 30 psi in the studded tire, would you reduce(equalize ) the pressure in the non studded tire. Thanks for the help.

Definitely put the studded tire on the front.
As for air pressure, it depends a bit on your weight.

I'm 220lbs, so I run at around 40psi on my studs, which seems about right. The lighter you are, the lower you can go (I wouldn't go below 20PSI)

+1 for studs on the front. Tire pressure depends on whether you are going with the 'float on top of the snow' or the 'dig down for pavement' strategy. Low pressure if you're trying to float on top, normal pressure if you're trying to dig for pavement (or an ice layer). Also wider tires are appropriate for floating, while narrow ones are better for digging. I won't go below the manufacturer's recommended minimum pressure, which is 36 psi on my Nokians. My road conditions are too crumby to try to dig for pavement or ice, so I'm currently running around 45 psi in front and 48 psi in back. This seems to work fairly well as a compromise between traction and rolling resistance.

I leave mine at 60 pounds when riding on streets that are maybe 20% ice. Less air=bigger legs in the Spring.

This is my first week riding with studded tires. Last Sunday I did some test riding. I started at 60psi and ended up with 45psi. It seems to me I have better grip and traction with lower pressure.

Adam

One is good, but two is much, much better.

+1. If money is an issue, I'd go with a pair of lower priced studded tires rather than a single, more expensive tire for the front. I wouldn't mess with steel (vs carbide) studs, though. Not if you want them to last more than a season or two.