I agree with above, for standard flat protection, duct tape is probably minimal. Perhaps that tire stud issue would be a unique situation, although a standard tire liner might also work to protect from tread studs.
I did have a sidewall/bead blowout earlier this summer. What a pain to boot, especially with minimal clearance chainstays. When I finally limped into a bike shop, one of the mechanics suggested Gorilla tape for similar booting. I still don't have any, but it may go into my toolkit for extended rides in the future.