For this project I was 1 for 3 in getting the old manifold studs out. I've come to expect it on manifolds. My "standard" is to go in the following order:
I try to remove them normally after a long soak with PB blaster. Then, if I can sense that the stud is locked in, before it just snaps unpredictably, I heat the stud red hot with a torch, allow to air cool, PB blast and try again. After a couple tries, the stud is inevitably broken off at this point.
The key to a good drill out is grinding a nice flat on the broken stud and then center punching on the fresh flat spot. This allow you to get the drill as centered as possible, which makes it easier. Normally I work the bit size up slowly like Randall...and am able to run a tap to clean the threads if I got the hole centered closely enough.
I have to say, working on 50 year old Triumphs has really brought my drilling skill to another level!