[HoosierDaddy]

Hi Les,
I would drill as a last resort. Radio Shack makes a small butane soldering iron/torch that would provide a good amount of heat in a small area. Here's a link:

http://www.radioshack.com/product/index....Id=2062753

Start by heating around the outside of the fitting so the fitting expands without shooting a lot of heat inside the hole. Imagine that you are trying to blow the heat in between the threads of the fitting and the brake valve.
If you MUST drill I would try to size the drill to the ID of the inside part of the fitting so that you are only removing the material in the "floor" of the fitting. Coat the drill bit with heavy grease. The grease will help grab the shavings,,hopefully keeping them out of that valve. Tape a small piece of rubber hose that will fit inside the hole duct to your vacuum cleaner to remove errant shavings. This larger hole will allow you to use a larger easy-out.

It appears that Jimmy and Gordon posted while I was composing my post....Both good ideas B-)