3Screwsloose has the right idea, and it works very well. I doesn't need to be an allen wrench though, a 4in common nail will do nicely.
first make a mark of some sort. Usually a centerpunch will make an indentation that is adequate to rest the nail on the spot to be softened.
While holding with a pair of vice grips, heat the nail or allen wrench up to cherry red and hold it on the spot to be softened. Keep the nail at cherry red with a propane torch, being careful not to get the flame on the receiver. After a very short time, the receiver will begin to turn red around the nail, just a small area, only slightly larger than the nail.
Lift the nail from the receiver and there will be a perfectly round bright red spot. It will only last for a few seconds, but that spot will have changed color and once cool, don't quench it with anything just let it cool on its own, it will be fairly easy to drill and tap.
The rest of the receiver will be as original.
By the way, if you're going to soften the whole receiver, unadvisable, by the time it is reheatreated, you might as well go out and by a finished factory sporter receiver when the costs are all added up. bearhunter