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I know you don't want to continue with it, but I think drilling it is going to be the only way out. Hopefully your original hole is pretty well centered. What I would do is keep increasing the drill size, one by one, until you've just got a thin tube of the original bolt in there, and keep applying PB blaster and so on- you *should* be able to collapse it, or get it to finally break loose. You're most likely going to need a set of "EZ-out" type bolt extractors- you drive or insert these tapered pieces into the drilled hole, and try to remove the broken bolt piece by turning them. With any luck, the bolt is finally convinced to turn, rather than something worse like snapping the ez-out. USe the thickest one that you can fit into the drilled hole. Enlarge the hole gradually and try to drill as straight as possible. Fortunately you should be able to get at the outside of this thing so it's not like drilling into a blind hole.
You may also need to pick up a tap to repair the threads in the hole- I think it will be M10 thread. A junkyard is probably the best place to scavenge a bolt. The dealer probably gets $10 for it or something stupid.
Hope this works out- I can sympathize with that kind of a problem.
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Rob Bareiss, New London CT ::: '87 244DL/M47- 221K, 88 744GLE- 202K, 91 244 181K, 88 244GL 145K
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