I thought about that. The job is really a bit too big for a Dremel but then too small for a cutoff tool. In the end a Dremel is probably the best choice but will take a few 'heavy duty' (if not more than a few) wheels to finish the job. I thought that a smallish (3") cutoff tool although a bit oversized would make a straighter cut more easily.
A when in doubt use a bigger hammer mentality.
When I purchased bolts to keep on hand for use later I'd only purchase longer ones and cut them off to the length that worked for me with a Dremel. The larger bolts took at least 2 if not 3 or 4 wheels before the job was finished. I had to purchase a replacement Dremel as I wore one out.