After this discussion I was re thinking

oh no. Lee Celtic might be onto something so while this is completely hypothetical it may just work...
I think Vibration and rust cleaning should be first. If you can't see the threads

then how well is your penetrating solution really going to work??? If you have to use a a roll pin punch and small hammer and give it 50-100 lite taps so be it. Then Hit them with penetrating solution and leave it overnight if at all possible.
Next would be to run a few heat cycle around them with the torch and hit them again with Ace/Atf and then let cool...
In general Steel is supposed expand at a rate of 0.00000645in/in/deg F. I'm no engineering, but if stud or bolts in question are heated regularly above let say 300-1000*F you would have to get it even hotter to make any 20yr old rust bond crack especially if your were only to use heat....
But I think this is the part could be very beneficial?
Drill a small hole on center say 1/16" (enough to get a spray can straw into) about 3/4"-1" deep then re drill the hole to the proper size for the extractor. now your ready for the show...
Hit the surrounding area with heat get it nice and hot when your ready give the bolt a shot of the arctic freeze and intermediately place the extractor and remove. I think you would have a short window, but that small extra step might make the slightest difference.

Or I could be totally WRONG and just cracked the bolt deeper down the rabbit hole...
