I installed longer studs a few years ago. Here is a quote from NHRA rules.
"The thread engagement on all wheel studs to the lug nut, or lug bolts to wheel hubs, must be equivalent to or greater than the diameter of the stud/bolt. Length of the stud/bolt does not determine permissibility. (Example: A 7/16-inch stud must be thoroughly engaged through the threads in the hex portion of the lug a minimum of 7/16-inch.)"
I thought I'd start another thread on this. My lug nuts are 1/2" dia X 1.20 long. When I have my wheel spacer on I end up with the stud .373 in from the outside of the nut. The hex part of the nut measures .629 Measuring the whole nut I have .757 of the stud in the hole which is fine until the "example" which talks about only the hex portion of the nut. I don't want to get off in BFE to a race and have some rule interpreting nazi not let me run because of the stud not being half way through the hex part.