Am I a Dumbass or what

if you've got access to a dc tig torch with a remote foot pedal you can get pretty precise with the arc with a long sharp tiped thoriated tungsten to heat it up red. make sure the tungston tip is ground correctly to get a fine arc at the tip. Like someone said, get it red hot...don't melt it and let it air cool then drill it out with a carbide bit. Done this before with success in stainless and mild steel, it works with a steady hand and patients. never had to do it...yet...in cast iron. An EDM would be my preferred method...but who has the cash for that....
Edit...If it's sticking out the bottom you can tap it lightly on both sides to possibly loosen it up some giving a tap extractor a better chance of success