Huffy/Raleigh: Day 4

I'm thinking of starting a new series on the OBB called "What's Wrong With the Huffy This Week." My main problem right now is that the stem bolt is stuck fast. The problem, I think, is that someone a long time ago pulled the stem up too far, exposing the slot on the stem steerer tube. Normally, the expander wedge and stem bolt would have been protected by being fully enclosed within the head tube, but exposing that slot in the steerer tube allowed moisture in there, and I think the wedge has rusted to the bolt. I've been soaking the whole works in penetrating oil, including turning the bike over and pouring oil down (up?) from the opening at the bottom of the fork tube (which actually gets oil on the expander wedge where it is attached to the stem bolt), but no luck so far. To make matters worse, at some point after it seized-up, someone apparently tried to get the bolt out and rounded off the corners, so I can't even get a good grip with the wrench. I, like my stem bolt, am stuck. Any suggestions?

More problems, er, "challenges" to come, including a fun little bit of jagged metal wedged between one of the crank cotters and the crank axle, which has chewed up the latter. Someone really did a number on this poor guy at some point.