I just did one of these (Campagnolo fixed cup removal) from
a 1978 frame that had been installed with some sort of thread
sealing compound and been in place for 32 years.

You need to refer to:

http://www.bikeforums.net/showthread...ed+cup+removal

and read far enough into it so that you get to
the ingenious idea of using a short 1/2" or 5/8"
hex bolt and nut with washers inside the cup and
outside the tool (large enough to hold it on the cup).

You can then proceed, as did I, to hit the end of the
goddam wrench in the appropriate direction with
a deadblow hammer (if you have one) or something
of a similar nature. This is kind of the poor man's
impact wrench.

Prior to doing any of this, degrease the cup area and
hit it from both sides with PB Blaster (as seen on TV)
and some triflow and let them soak in for 20 or 30
minutes. Patience and fortitude are called for in this
particular operation. For some reason I seem to have
both the Park and the Campagnolo tools for this fixed
cup. Must be indicative of advanced age or senility.

Mike Larmer