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M10x1.25 is correct. A helicoil or some other type of threaded insert or threaded bushing should work.
When I did my plenum spacer, I had to raise my strut bar a little so it wouldn't make contact with the top of the plenum. I went with M10 x 1.25 x 30mm, so I would imagine the stock length is shorter than 30mm. Maybe 25mm?
Yes, M10x1.25 is commonly used all over these Zs (exhaust flange bolts, strut shafts for upper mounts, the upper front tower brace, and many other locations). I made an oopsie on the Z once and had to find a tap and die set with this size, it was not easy finding a local shop that had tools in this size. The more common pitch is 1.0 or 1.5, not very many 1.25s, guess it's a Domestic thing?
Cheers!
-Icer