This blasted stud!

I'm having trouble getting it out. (and that's just the stud!) I tried the stud extractor but there isn't enough room. The water pump housing is in the way. I tried making a slot with the hacksaw blade so's I could get a flat-bladed screwdriver in. My next idea is to drill a hole through the stud, insert a rod (something like the shaft of a cross-head screwdriver) and hopefully that will exert enough force to unscrew the stud and get it out of the cylinder head intact. Failing that I'll have to saw it off flush with the cylinder head and carefully drill it out. If I can get the generator started I'm home free. It cut out last night and wouldn't start again.