this is what I do. You will ruin a lug nut in the process, but it works.
Punch out the old wheel stud and then insert the new stud in the hub. Get a couple of hand wrenchs and put them over the stud shank. Thread the lug nut on the shank and tighten the lug nut onto the wrech until you can't tighten it anymore. It is goign to hit the lugs on the wheel. Then loosen and do that process again. Loosen and repeat until the lug seats against the hub face.
Hopefully this makes sense. Like I said you ruin one lug nut by doing it this way, but it takes about 5 mintues and beats removing the hub or in my case an axle to get the job done.
Aww crap. Just read the first post compeltely. Oops. yeah the longer studs pose a definate problem. My bad....