"Assuming the fact that I don't know a thing about the loads placed on that part of the mast, would it be of your opinion that this is a futile endevour?"
This reminds me of a photo that I saw once. I think it was of Dan Berger using an old Hobie 16 mast to remove some concrete sidewalks on his property. It was like having a 26' prybar. Imagine the leverage you can get with a couple guys hanging on one end. As I recall, the mast was not harmed.
Jack