With a large hole and small fastener, it tells me the only thing the outer bolts do on later blocks is hold due to friction between block and cap - not a mechanical stop. That said, the block and cap can still move independent of one another in this setup. In terms of bolt tension, I suppose an argument could be made of the benefit, but for lateral stability, the outer bolts do little in their current setup from what I can tell. A better design (and I'm no engine block designer) would be a shoulder bolt with the shoulder about the same length as the cap hole. Assuming the shoulder was a machined fit to the cap, the outer bolt would see shear and tension, but no bending to speak of. The bending wouldn't be as likely to be transferred into the web.
Put the originally designed studs in place, throwing away the bolt idea totally, and I think a guy would have a superior setup in a factory style configuration if they didn't opt for splayed mains. I'm further convinced that bolts do not belong on the main caps - only studs.