Its not about the magnet its about the hex method of tightening and removing. It will eliminate your problem of stripping from happening again. 
Ah, I see. An internal hex. Of course, not acting like a gorilla when tightening the plug would probably help too.
Vice Grips won't work?
Nope. They just rip more material off the bolt head (it's pretty soft metal). I didn't want to get too medieval on it in case the reason it was stuck is because it's cross-threaded or something. Tearing the threads out of the case would really suck.
Thanks for the help! Mission accomplished.
