Many thanks. As you point out, all the studs were fine below the nuts and washers - which gave me a lot of confidence about the original design. However, it was the state of the the nuts and washers that prompted me to change them.
Firstly, the nuts: They seemed to be a mix of 32 to 34 AF against an ISO specification of 36AF for an M24 stud. In addition one of the studs had no threads emerging above the nuts. Once I got a nut off they appeared to be be very thin against a new nut - I was concerned that they had corroded away and therefore under specification. The nuts also appeared to have the remains of a flange that had corroded away. - similar to an ‘axle’ nut. The worst ones were under the heads floor. In my view, I was able to remove them with a socket before they had gone too far & I rounded the nut off. If that had happened, I would have had to cut a section out of the heads floor to slit the nuts and extract the stud. With the nut and stud combination out I was concerned about the gap between the stud and the nut, potentially indicating the threads had started to corrode see video https://youtube.com/shorts/B4rwsbv5c4A?si=tYPFRrscNaU-ENlw
For the washers, in chipping the paint away, quite a bit of material flaked off. Having got the first one out, the washer had thinned towards the edge. It is the washer that transfers the loads of the keel to the hull hence there are 16 of them and oversized. I replaced them with slightly large ones in 316 stainless steel.
Overall, it was the condition of the nuts and washers that I continued to find which prompted me to change them. My boat is a 1986 model - so probably about right after ~39 years!
Of course, each boat will be different, depending on how well they have been looked after……