Stripped bolt hole Question

[roccit_53 at scirocco.cs.uoguelph.ca (C Boyko)]

Okay, so I went looking for the go-fastiness we're missing on this 16V. 
But here's the question, and the reason I'd put off setting timing (which,
as it turns out, was really retarded). I knew that the front bolt holding
the ignition distributor tight was stripped, the dealer did it ages back,
actually that was very last time they ever saw the car, except for the gas
tank recall.

Anyway, how do you fix a bolt hole in the head that's stripped? Is this a
job for a helicoil, and if so, how do I know what to get / how hard are
they to install? I figure this distributor should have two bolts firming it
up, right?

And BTW, what a pain 16Vs are to time, could they put any more shit in line
with that hole?
Cathy