You are correct Frankie, the gaskets also corrode over time from the combustion gases. I doubt very much if you could measure the stretch in a bolt with conventional home tools, and it's a mute point, because on stretch bolts (torque to yield) the bolts have been tightened just up to or past there yield point, so that they exhibit permanent set. A bolt is designed to work like an elastic band, I.e when you stretch it and release it it tries to go back to its former length, in doing so it induces a clamping force, the more you tighten it the more clamping load it exhibits, until it goes past its yield point at which point it continues to stretch. On many cylinder heads, bolts are tightened to there specified yield point and then turned x amount of degrees to be sure. as this invariably induces a permanent set condition, and the bolts are said to have stretched, hence the name. If you were to re-apply the torque to these bolts they would stretch further, in doing so the grain boundaries fail, the material becomes weaker, the result is the clamping load falls off, and the head becomes loose. This is why you should fit new bolts.