I am restoring a 1967 Camaro and I am currently working on the rear axel. I am wanting to replace the rear wheel studs and the only studs I am able to find are studs that are 1/2" longer than original (original length=1.5" overall; new stud=2" overall). Will this longer length work? If not, what are my options?

It all depends on what type of lug nuts and wheels you are planning on using. Are you restoring the car with stock or rally wheels, or going aftermarket? If the nuts are the open type, it won't matter. Even if you have rally wheels, the extra 1/2" will still fit under the derby cap. If you already have the shorter closed, or acorn style nuts, and are using them on steel wheels, then those nuts probably won't work. Aluminum wheels have a thicker hub than steel wheels do which will compensate for the stud length. And you can use longer length (deeper)lug nuts whether you are usingsteel or aluminum wheels.