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already replaced the rear brakes and getting ready to do the front. My question is Do i need to have the plate with the studs pressed out of the old drum or can i "knock" them out myself?
Take the hub and drum to an autoparts store's machine shop, have the old studs pressed out, new studs pressed in.
You should not reuse old studs, because once removed from the hub, the serrations flatten out. The serrations are what holds the drum to the hub.
Pounding on the hub to separate it from the drum can damage these parts. If one or more of the studs do not come out straight, this will elongate the holes in the brake drum.