Since having the problems with blade/bolt removal a while ago, I've found that using anti-seize on the threads and interior of bolt head makes all the difference. Simple matter. If you buy a new bush hog I'd suggest first thing you do is remove the bolt and put anti-seize on it before using the mower. . . .
BTW, my sq4800 does not have a key, seems to work fine w/o one, and the anti-seize lets you tighten the crap out of the bolt, blades still flail, and removal is as smooth as crap through a goose.