There is, but you need a Rolex special tool that even most ADs won't have any more so for all intents and purposes you are correct.
hehe yeah the so called butter or cheese knives Col, us old folks remember those things XD not far from an old case back remover with a central curved flat end scalpel blade, but really mate don't try that on a gen folded unless you really know what you are doing. On a rep bracelet it's not a big deal but you will realize it's hardly possible to fold the links back to their original shape. I have done it on a gen 6635 I have with good result but man, what a pain in the back. It was almost gone with practically every single midlink needing reshaping so I felt I had nothing to lose, but I wouldnt recommend that just to get rid of a link.
It took a whole week, 2 barrels of beer and some well placed wet cursing to rehaul it completely.
btw spare aftermarket folded links are available for sale. I saw em somewhere.
Here is an interesting link from a german forum where they are dissecting a 9315.
They aren't using the right tool and they ended up deforming a link leaving no option rather than replacing it.
If you decide to go that route, cover the tips of your flat pliers with a 1.5mm rubber foil before using them to refold the mid links. Also, try to use pliers with tips that are just a tad less wide than the midlink itself, so you wont bend the corners.
I did that and it really helped. They did not and screwed up a link :/
http://www.r-l-x.de/forum/showthread.php?t=72231