ARP (or other aftermarket head studs) are not necessary. I know plenty of people that swear by OEM head bolts. I have heard that they are TTY though. Consdier getting another set of OEM bolts or just go with aftermarket - I prefer AEBS because they have an allenhead top to the studs so you can properly torque them without using the double-nut method.

If you think of the design of a head gasket you would likely burn coolant off before oil. The coolant channels run closest to the cylinders and then the oil passages so I don't see that being your problem - although I could be wrong...

Burning off oil sucks because it's hard to diagnose.