I've found a air hammer/chisel to be of somewhat limited use on the pinch bolts. You can use it to pound directly on the bolt a bit through the splits. Mainly you want to beat on the housing around the bolt with a big hammer to help loosen things (a blunt tip on an air hammer may be helpful here), then lots 'o PB Blaster, then using the head of the bolt to try and make it spin in it's hole. Once you get the bolt to spin, you are pretty much home free. Heat is helpful if both upper arms are junk anyway, as you will destroy the boots. I have found that a small 3/8 drive impact (I use an Ingersoll Rand Titanium) is useful for spinning the bolt back and forth and then finally out of it's hole. There isn't room for a larger impact in there.
I suppose you could use it on the end of the bolt to push it out, but I've never had to use that method. I suppose if you get the head of the bolt broken off, a small tip on the air hammer could pound it through for ya. You have to get creative with these bolts sometimes, lol.
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