Rear V-brake pivots (cantilever studs) asymmetrical on Specialized Hardrock XC 2004 - how to fix?
Thanks for the help. Finally what I needed to do was to screw the stud further in. The previous owner apparently had screwed it 2 mm out because in their wisdom they put a different V brake lever on the left hand side - which fitted better if the stud was protruding. Actually a guy from the local bike workshop did the screwing part for me, since I was afraid that I might damage the frame if I do it incorrectly. 

Front brake studs were totally absent from the fork, so I got 10 mm diameter studs - similar to ones in the picture above from e-bay for 8 £. Happily bicycling now. :) - there is something very satisfying about getting a used bike with a good frame and fixing it up, learning as you go.