Just wanted to close the loop on this. I didn't own a Dremel (for shame!) so I ordered one online and had to wait for it to ship, but of course it didn't come with a cut-off wheel, which I finally picked up at the hardware store today.

I spent a couple of minutes getting everything assembled and masking off the gaping hole in the timing case; cutting a slot in the bolt and turning it out with a flathead screwdriver worked like a champ - super stoked! It was literally seconds of work.

Thanks everyone for the tips!

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