My personal experience with a severely stuck seat post:
2 or 3 weeks soaked in Aero-Kroil (Aerosol version of Kano-Kroil) and then steadily increasing torque first one way, then the other. A 6-foot cheater bar definitely helped to increase leverage. I could tell when I was reaching the limit of the tubing's strength from the way it twisted and flexed under stress. I figured as long as I didn't cross over that limit that I'd be OK. I also tapped the top of the seat post with a metal hammer while it was being torqued to try to jar some of the rust loose.
It required a lot of patience. After torqueing it back and forth without any luck, I soaked it again for another week, and then tried it again, back and forth. Once I sensed some movement in one direction, I twisted in the opposite direction, steadily increasing torque up to a point, then back in the other direction again. Back and forth, each time yielding a bit more freedom of movement until I was able to substantially rotate the post in the tube while pulling it out bit by bit.
I'd say give it a try, and if you still can't loosen it, soak it some more and try again in another week. Sooner or later the Aero-Kroil should find its way into every little crevice and dissolve the rust. The manufacturer claims that Kroil will creep its way into 1/1,000,000 of an inch gaps!
Kroil has an odor to it, so leave the whole mess in the shed while it soaks. I even used a rag soaked in Kroil wrapped around the seat-tube-to-seat-post junction and checked it daily to make sure it was still damp. If it wasn't, I just sprayed some more of that magic stuff on the rag until it was damp again. I also had a drip pan underneath everything to contain any leakage.
http://www.kanolabs.com
....and, NO, I don't get a commission for recommending it. Just trying to help.
Good luck!