I see these two items referred to alot on the forum.  Are they the same thing or different?  What are their purposes and how do they work?  I've never used either, which could explain why I nearly always end up with broken or stripped bolts when I work on the bike.

thread lock comes in several colors - blue is the one you want - keeps screws from rattling out, but doesn't make them impossible to remove when needed

never seize usually comes in a (approximately) pint jar. looks like metallic greasy slime.   usually outside is covered with filthy, greasy fingerprints.  never seize goes on things you barely got apart because they were so tight and you don't want to kill yourself if you ever try to take it apart again.  

my favorite place for never seize is on brake caliper bolts on my car

The Auto parts store in my town sells anti seize in little squeeze tubes about 4 inches long. For motorcycle work one tube will last so long that you will buy another when you lose the first one.

Phelonius

Anti-seize also seems to keep corrosion between dissimilar metals down.  Not too much is needed.  I'm using my can from 1976 still - but it's only 1/4 full now!  

For either lock or seize, clean all the threads inside and out.  If you're dealing with a rusty stud, use a dremel brush or something.  This is worth doing.  If you're dealing with a rusted screw or nut, don't.  Just replace the fastner.  Seriously.  With a better quality one.  For steel into aluminum, use spray cleaner to blow out the hole, too.  

Antiseize - no need to lather on.  You want a thin uniform coat.  A little dab and then run up the threads with rag.  Careful - it tends to adhere to everything.  It's especially good on black bikes!!!  

Lock is always a compromise.  You don't want corrosion, but the lock needs to adhere.  No rust allowed.  Very clean.  A tiny bit of lock goes a long way.  I tend to put lock so that only the outermost threads will be locked.  Too much lock - well.  You'll know you had too much when you attempt to disassemble!!!

I never use studmount red.  If the stud breaks off I want to be able to get it out.  

I haven't found anything loose on the 650.  I'm putting seize on most things and properly torquing.  I suspect most loosening problems are from light torquing.  Get a torque wrench and use it.

And if a nut clearly isn't going to come off, use a nut breaker to split it off if at all possible.  No damage to the threads.  Clean, lube, & put on a new nut.

Sometimes things just break off.  Isn't too hard to drill something out that's off the machine.  On the machine is more difficult.  Ideally get the piece in a vice on a drill press or milling machine, line everything up nicely, and drill the center of the broken off thing out.  If I get a hole started very nicely lined up, then I'll go ahead and drill almost out to the threads.  Then the remains are easy to clean out.  Chase the threads with a die prior to reusing.  The corrosion that led to seizing in the first place will leave seeds.  

I'm remembering why I left being a mechanic . . . .