I'm loving studded clothes and the moment, I think they look really cool and they give the piece of clothing a real edge. Sadly I don't have any clothes like this due to me being totally poor (I hate car insurance!) but I do intend to buy some when I get some cash.
A great place to get some studded stuff is The Ragged Priest, they do some really nice pieces. Some of my favourite pieces they do is their studded leather jackets and the studded rucksacks which are really in at the moment. I know Burberry did a great collection of some studded jackets which looked absolutely amazing but quite obviously are out of my price range!
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