First, ignore all the K3xx citations. The "K" section is for extremely high pressure -- above Class 2500# flange allowable pressures.
Unless Crevice Corrosion is a problem in your service [rare] there is no preference between socket-weld and butt-weld fittings, in smaller sizes.
3"NPS and larger socket-weld fittings are available, but unless it is impossible to hire a decent pipe welder, buttweld those larger sizes. There are arguments for both socketwelding and buttwelding 2"NPS. I currently prefer buttwelding.
Threaded pipe can be readily "backwelded", and turned into a socketweld connection. But it is expensive and time consuming. If this is an existing threaded connection, it will have to be disassembled and both the male and female threads cleaned of all the pipe dope [thread sealant]. Then all malleable iron fittings must be discarded and replaced with forged steel. Then the weld is made, and ALL the exposed threads must be 'buried' with weldmetal so bring the pipe back up to full wall thickness.
Just buy Class 3000 socketweld fittings made to SA-105. Socketwelding is actually faster than threading, if you have a good pipefitter and a good welder.