You may be getting to the point where you have to "drill" out the plug.
You've heard of "easy-outs?" Essentially a pin-reamer with a "twist" opposite to the thread. You drill a hole, twist in the easy-out (turns counter-clockwise). The easy-out "winds into" the drilled hole and provides torque to "back" the plug thread out.
One wants to be careful not to "overly twist" the easy-out and break it. Like a reamer, the easy-out is hardened - and like a broken drill it makes it VERY hard to remove by drilling.
Even the act of drilling and the heat generated may be enough to loosen the plug. Drill the hole in the plug, try the vice-grips again, and you may find the plug will turn.
If you can, you can try "expanding" the drilled hole from say 1/8" to near the pilot drill diameter of the pipe plug thread. Which is (looking online) 21/64 (near size) or Letter Q (exact size.) Expand in steps and again try to make the heat of drilling work for you.
You may get it all the way up to pilot drill hole size for 1/8" pipe - in which case you can try "retapping" the pipe thread. Even if you're a little "off center" - the remaining thread crests may peel off in the threaded hole leaving enough to put in a fresh plug and pipe-dope.
I have used "left handed drills" to good advantage in this instance. Most any size and even a set you can buy on Amazon. One of the high point of my machine repair career comes when you suddenly see a bolt/plug "back out" under the heat and torque of a left handed drill.
The nice thing about pipe thread is the "taper." It gives you a lot of leeway in re-drill/retapping.
If you have to (last ditch repair) you can "expand" the hole size to 1/4" pipe thread. Re-tap 1/4 npt and then use a 1/4 x 1/8 cast iron bushing to make new threads. The 1/4 bushing can be ground off flush and when painted will look and work like original.
Joe K
Edit: Google AI
The standard pilot drill bit for a 1/8-27 NPT (National Pipe Thread) pipe tap is a
21/64" drill bit. A Letter Q drill bit (
0.3320") is the recommended, precise size, while a 21/64" (
0.328") or R (
0.339") bit are common, effective alternatives.