Any advice on removing stripped screws from a bass?

[Nicolay3535]

I'm currently restoring a 71 univox p bass and I have about 4 stripped screw tops. Anyone one know of a way to remove these screws so I can replace them??

[blipndub]

I've seen some success with using a dremel cutting wheel and making a slot that you then can use a flat head screwdriver to back out. Or maybe visegrips?

[mdogs]

They have a tool at any hardware store that fits into a drill that is designed to lodge itself into the stripped hole, can't for the life of me remember what they call it right now. Anyway, they work great.