Correct, lug nuts with shanks do not fit the new wheels at all.
Roin got back to me that they no longer carry the lug nuts.
So here is what I learned. I put the Hall Ultra wheel back on and the lug nut with the shank turned exactly 8 turns before it got tight enough that I could not turn it by hand. I went to the local auto store and bought a M12x1.5 conical lug nut (60 degree angle) and tried it on the new Roin wheels. It turned exactly 4 1/2 times before I could not turn it any more. It sat perfectly, so the seat angle is correct at 60 degrees; however, the studs are definitely not long enough for these wheels and need to be changed out.
And to answer otis' earlier question, I covered the history of my car in another post, but the short of it is that it was imported to the U.S. from Europe (not sold through Lincoln/Ford dealerships here) and was later converted into the GT5 some time in the 1980s, so it does not have the longer studs. It is now obvious to me that the wider Hall Ultra wheels were designed to work with the standard studs.
Is removing the studs a DIY project? I am pretty handy around cars, but I haven't done one outside of a dune buggy about 30 years ago, which I recall was rather simple.