When i was in the process of ordering my studs, i called ARP directly and asked them what the differences between the regular and undercut studs were. Basically what i got from the was that the regular studs are a bit stronger, not necessarily because of material type but the fact the the undercut ones have less material or metal around the smooth parts of the shank(im not talking about the threads).
Im assuming thats how they'll more or less stretch a little more if theres less material in that area. They also told me that the regular studs are better for situations like drag racing. The undercut ones are better for "street" stop-and-go type situations. Yeah, i dont know what the sales rep meant by that but i asked atleast three reps and they all agreed to go with the regular studs. I think you can get a little more infomartion than is provided by that link directly from ARP if you download their catalog.
It seems that years ago there were some problems with the studs and threads. Apparently there were different threads and pitches that the CA block came with that people were getting the wrong studs. It turns out that ARP has since corrected the problem and now you can get the correct kit using the new corresponding part number they put out. I think you dont have to worry about this problem anymore.
Here is what i bought and have installed in my motor, it works too! It was the "original" stud kit for our CAs before it got its own part number.
ARP SR20 Main Stud Kit 202-5402 (head stud kit) - $82.84