jamesl-
Got that interpretation number by any chance? I'm not doubting you, just like to make a note of it in my code book. In any case, when calc'ing torques for bolting up exchangers, the code allowable stresses are tossed. Typical target stress values for torque are on the order of 50% to 80% yield. In this situation, I feel that the bolt tensile area is a more realistic means of determining the force than a conservative area based on the root diameter. By forcing the root diameter to be used, the code is in effect providing beefier flanges, and I'll agree with that. See Appendix S for a write up on bolt stresses. A few excerpts:
"The maximum allowable stress values... are design values... However, a distinction must be kept carefully in mind between the design value and the bolt stress that might acutally exist."
"An initial bolt stress of some magnitude greater than the design value therefore must be provided."
"...it is evident that an initial bolt stress higher than the design value may and, in some cases, must be developed in the tightening operation, and it is the intent of this Division that such a practice is permissible..."
jt