I have the same set you're talking about DO0E 1970 351W ... Most have the thermactor bump but they aren't drilled. Mine are already set up for the 1.94 intake 1.60 exhaust. I believe they come stock with 1.84 / 1.54 but i'm not sure about that. Whether you can go out to 2.02 intakes i'm not sure either.
There is a good article on porting these heads at fordmuscle.com .... I printed it out before they went subscription. I'd send you the article but my scanner is on the fritz
With the home port job and the jump up to the 1.94 intake valve they actually flow pretty well for a budget head. With a home port job and 1.94/ 1.60 valves they flow 211/181 @ .600
Oh and yes they are pressed in studs.