[Goldengreg]

After talking to my friend who is helping ,and since it is only a little over 1/2 inch of bolt left in there, we think this might be the best plan combining all of the ideas:

I think we can start with the thinnest reverse, if that does not work then try to dremel a line for a flat head screwdriver to reverse. If that does not work try next bit size up. If that does not work then use the grabit or drill out. I am a little nervous on the helicoil since it is such an awkward spot and hard to be exact. How does that sound?