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The only thing is, pulling the radiator out still might not leave you with you enough room to drill it out proper and even. I'd say defenitely do that, as it's easier, but thats only going to free up a couple inches.
Find someone with a right hand drill...You only need a few inches a clearance for that.... Someone near you has a right hand drill and bolt extractor, Even when I was goin to Wyotech in the middle of NOWHERE I found a shop with a right hand drill and dolt extractor
I had the same problem with a bolt I broke off into my head. A little bit was sticking out, but not enough to use vice grips on. Luckily I have no A/C and it was on the drivers side of the head so I just drilled it out and Heli-Coiled it.
I have the same problem. I've dealt with the small exhaust leak for a while, but I got a bolt extractor kit. I'm just waiting to find a stud to put in it's place.