I have a head stud kit, but the short studs stick up way too far to allow room for the exhaust to be installed. Don't really want to try to shorten them for fear of corrosion on the cut ends and general PITA factor. Would it be OK to just run head bolts for the four short ones along the bottom of the head?

Yes.

What exhaust are you running?

Lightning headers. I had to grind the flanges a little just to clear the ARP bolts with washers that I was running before. No way they will clear the studs. FWIW, my stud kit is actually for aftermarket raised port heads, so the studs are too long, but even with the correct short studs, it looks to me like they will hit. Add to that the cost of ordering 8 short studs by themselves, and you can see why I am asking this question.

I could just go back to running head bolts too, I guess, but since I have the studs, I thought I would use them for their superior clamping. I am running Cometic head gaskets, BTW.

i did it on a pair of 1200+hp engines with no issues,over that amount of hp,i dont know.

you will be fine, I had to do the same thing with my Lightning headers for the arp bolts, switched to studs and 4 lower short bolts works greatAlso running Cometic geaskets third season. go for it