I've had mixed results spraying penetrant on a heated up area,sometimes instead of helping,it cools the part off,and actually "tightens" its grip on the busted bolt...I soak it down before heating it up,not sure if that helps much though,as most of it burns off instead of soaking into the threads..
I know what your saying about using a propane torch instead of the usual torches,but if your careful you can use them--just adjust the flame to a softer one than you'd use to weld with...more gas than oxogen..and keep it moving,so a puddle wont form..