Thanks guys. My Dad was out in the shop watching me when I broke it loose and I had to explain to him why that was about the best Christmas present I could get.
I watched a bunch of videos the other night of guys welding nuts onto studs to get them out and I know now what I was doing wrong, or what my trouble was anyway. They were all using either mig or tig welders and being real neat and tidy with the puddle once it was formed and my old flux core wire feed welder just splatters all over the place instead of letting you create a nice puddle to work with. I decided then that a mig welder is on my shopping list. It might just be how I reward myself for getting this far on this job so quickly.
Anyway, this $19.00 stud extractor is the shiznit. As you crank it tight with a ratchet (counterclockwise) it tightens down clamping onto the stud. Once it won't tighten anymore, it puts all of the force into turning it loose out of the hole. It never even slipped on the old corroded up stub of a bolt it had to grab onto.
It is now
Lance approved for sure...