[macojoe]

The trick here is to drill the old bolt out. Nw I say trick because you need to try to drill stright down the middle!!
Try to put a punch on the center of the bolt and then start drilling slow.
You want to drill like 2 sizes smaller then the bolt. Then you can use a easy out to get the rest. You maybe can try to go one size smaller then the bolt but then you are getting close to the threads!
After you get it out you will need to re tap the threads to get them clean.

Like stripminer says Slow and steady, and oil the crap out of it!! She will come!

Good luck!