I would tighten the nut untill the bolt breaks and then put in a new nut and bolt. Aren't they just 1/4 inch bolts?
If he wants to modernise go to an air chisel.:thumbsup:
If you can't get in there with a reciprocating saw or bolt cutters, so that you can cut off the bolt at the nut, you can run the reciprocating saw alongside the bolt (almost as a guide) and cut the nut off on one side. Once it's cut off, channel locks or a visegrip will allow you to remove the rest of the nut (if it doesn't just fall away).