@Ghogiel, thanks so much for the in-depth explanation on the different possible approaches, the seamless transition of the floaters are awesome and I am most definitely going to implement that. I like this approach much more than my initial.
It depends what you want. If I wanted the studs to look welded/molded to the surface of that bottom ring and what you are making is a sub D high poly. I would make them floaters. It's not a hassle to cut them in as you have done either but I would have probably used less poly in doing so, making the cylinders just 8…