Mind you, this only works with *steel frame* bicycles (see how I emphasized that?), which are more flexible than carbon fiber, aluminum, etc. and can be bent back into shape (within reason) without loss of structural integrity. So anyway, go read the article, then come back here and check out the pictures below. Go ahead, I'll wait.
So here's my setup:
Instead of wood blocks, which I didn't have in the right size, I used a couple of landscaping bricks with (very dirty) towels over them for padding. I also put supports under the head tube and bottom bracket so the frame wouldn't wobble around. I used a piece of 1" wooden dowel, cut to size, as the spacer between the dropouts. You can see that the bent stay is on the bottom, ready for my foot.
Then, as Moulton says, I stood on the stay where it was bent. But either I'm too light, or this frame is too strong, because it did not bend as easily as Moulton suggested it would. In fact, after several tries, and some adjustments to the spacing of blocks, I ended up having to stand on it with 230 lbs. of force (my own 180, holding 50 lbs. worth of weights). After several attempts, during each of which the stay straightened a wee little bit, it came out straight enough to my satisfaction.
Actually, it still seems a tiny bit skewed to me, and I'm not sure if this is just my mind playing tricks, or if it needs a little more. Looking at the photo below, what do you think? (it's the right one). The alignment checks out with the string test, which Moulton also recommends.
Now I just need to get the seat post unstuck. Any suggestions on that? Besides heating it with a torch? I'm not averse to that, it's just that that seems to be the main suggestion for various stuck things, so I'm saying it now to get it out of the way. Oh, and penetrating oil, I know about that, too. Anything else?