Ok, I hate dredging up old posts but I felt I had to on this one. I tried the acetone/ATF mix as a penetrating oil tonight on the studs where the y pipe mounts on my 61 and on some muffler clamps. I must say, it works abosolutely amazingly! On the studs, I hardly had to torque on the nuts to break them free, and once they were, I could get them off with my fingers.
Just don't inhale the fumes - they're pretty strong. It also starts to bubble when it hits the rust.
All in all, I'll never buy penetrating oil again!