Hi dingaling,
An ezi-out of that smaller size may just snap off giving you even more dramas as steel into alloy (diecast) can be a real bugger.
What I would do at this point is accurately centre drill the set screw only as deep as the head and then increase drill sizes until the head drops off. This way you'll be able to release the bearing cap up releasing the reel and you'll still have enough screw shank to put into a vice firmly and manually twist the carrier which will then set you free !!!, so to speak LOL.
Cheers,
BB.
