blykins,
You are welcome to send it to us and we will burn it out for you on our tap disentigrator. Shipping may be a little expensive, come to think of it. Probably $25 both ways. Heck, you send it to us, we will burn it out and send it back, no charge.
OR,
If you are like me, you have the !@@#$$% bolt in your sights and are not going to give up.
Take a torch and heat up the area around the bolt. I have got them red hot before with no bad effects. The bolt should then unscrew with the vise grips.
Of course, as soon as I tell you to heat up the tail housing with a torch, you will crack it...
So, if you want to send it to us, we won't mind.
David
It occurs to me people may not know what a tap disentigrator is. It is a machine that has a small electrode, (the size of the offending bolt, tap, drill, etc.) and it makes little electric discharges that burn away the problem. As the electrode arcs against the bolt, it melts part of it. A coolant flushes away the swarf and the electrode slowly decends down the hole until the whole problem is gone. The process is fast, 5 minutes, and leaves the threads unharmed. Really cool--but the machine was expensive--thank goodness for ebay!