Well, guys, here is what I did - and it worked famously;

I cut off the stuck post except for about 2" - leaving room for the next ambitious owner who might want to try his/her hand at getting the seat-post out.

Then, using a drill mounted disc cutter, I sliced the stuck seat-post vertically along the tension-slit in the post-tube.

Then, I slipped a smaller diameter seat-post inside the stuck post.

The new seat-post O.D. was almost the same diameter as the stuck post I.D.

With a shim, it fits pretty well. I rode the bike to work today and all is well thus far.

That was silly. I spent three days rebuilding the whole bike, replacing parts, and doing paint touch-up. When I went to give it a test ride, I discovered the seat post was helplessly stuck.

Next time, I'll check the seat-post first.

Remember, Folks:

1) NEVER EVER pound a seat-post into a post-tube.

2) Be sure your post-tube has a thin coat of grease to protect it from corroding to the seat post.