I'm going to keep this in mind just in case I do run into a situation where something like this might just be the only way to repair a threaded stud or something that can't be easily replaced and therefor worth the $50.
But honestly, for just a regular bolt that could be easily replaced, I would likely just discard the damaged bolt and buy a new one if I can't find a replacement in my grab bags of extra bolts I have in the parts cabinets.
Threaded Mode