Couple Dumb questions...

There is some stuff called Kroil we use at work. Amaizing if you can find it. PBlaster is a good second choice (that's what I use at home). Replacing the stud with a bolt isn't too bad, just be sure to use grade 8 and back it up with a washer. If you are donig it alone, try JB Welding the bolt/washer in place with a little gorilla tape to hold it in place the night before. The next day it should hold enough to let the force of the nut keep it from spinning on you.