Grabit screw extractor
Available at Ace hardware. I've used all methods listed below on cars, boats, motorcycles and other impossibly stuck screws. I recentaly found these while looking for screw extractors (quite possibaly the worst way to get a screw out). They are a 2 ended bit. One end drills a cone shape into the stripped out head, and the other end is a reverse threaded cone that grabs into the cone that you just cut. The best new tool that I have found in a long time. It took out corroded screws that I had been working on for two weeks with PB Blaster, heat, pounding, impact driver (just stripped the head completely, and I do know how to use a impact driver, I used to ride motorcycles), and copious naughty words. I see that I am getting a little long winded, but I was really impressed with this tool.