Well, Ron and Frank...I FINALLY got my plug removed from the thermostat cover...drilled it, then used a Sears #4 extractor (labled for use on a 1/8" pipe plug)...noting that it took over 40 ft-lbs of torque (needle deflection type---crude, but still a reasonable estimate)...which , in MY opinion is WAY TOO MUCH torque for this type of plug given it's soft metal, small size, and location...possibly related to the type/amount of "sealer" used on the threads.
There is NO DOUBT in my mind that trying to bleed air through the stock setup...ON THE CAR has risk of damage to the car...several techs have allowed that they skip this step for that very reason.
Perhaps this is why one sees a small brass "brake-bleeder-type-plug" sttting on top of the Gen III thertmostat housing....guess "who" plans retrofit...even the $1.99 brass 1/8" "universal" radiator pitcock from Autozome would SEEM better to ME. (THANKS for the tip, Charlie).
Admittedly, I have changed coolant on Gen II's without venting air thru this port...just thought it would be good to try to "go by the book"...have now changed my mind on that one !!
P.S. I have installed Roe Racing's silastic radiator hoses with the built in Schrader valve pre-installed on the upper hose one of our other Gen II's....SLICK MOD, Sean !!!
Hopefully, some of the REAL PRO'S who frequent this board can tell me what it is that I am missing on this issue.