Evan - either approach is fine. If you plan to tighten down the original bolt, be sure to take along a good torque wrench and set it to 25 ft/lbs. In addition, bringing it up to torque and loosening it a couple of times may help.
If you plan to do a glue-in, you will need to get the sleeve and cone out. I can fill you in on the details and tools required if you don't know someone with the right kit to do the job.
There is less controversy surrounding bolt choice than this thread might imply. I like glue-in bolts, too.
Thanks Matt. I'll first try and bring the bolt up there and see if I can get it seated again. I might have some 1/2" stainless myself, but I think all mine are 3/8". If plan A fails I'll be in touch.
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