Update #2: Half-way through (the easy half).
I was able to loosen the hinges bolts on the passenger side which gave me a bit of wiggle room, but still not enough to disengage the stuck "cone head".
I went through just about every forum post that had the word "hood" in it. Many suggests to go through the front grill or from under the car. Breaking news: Even the light of my flashlight doesn't reach that area, so this is not happening. Don't know if it's because I have a 74 or because I have a big block or simply because I have a radiator (duh), but there is not way to reach those except from the wheel well.
I am not able to reach on the driver side (through the wheel well like I did on the passenger side). The hood support bracket is in the way. I tried to remove it from under, but realised it's also held from by a 4th bolt; from the top.
SO, on the driver side, I took my dremel and flatten the bottom of the 2 screws (pointy bolts) of the hood hinge and then made a groove so I can use a flat screw driver. The torque required is too high and it distorts the bolt (well, half the bolt at this point...).
Unless someone has a super good idea in the next few hours; I'm going to shave the bolt even more and then drill it out from under.
MAJOR PITA if you ask me and what's left of my knuckles and my back.
Time spent so far on this; 6 hours.