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One tool worth checking into is ZTree (you can find it at http://www.ztree.com). It's a complete rewrite of an old DOS file utility
called XTree which Symantec bought and promptly killed off as unwarranted
competition to one of its products. I was a longtime user of XTree and when it
died I was really pleased to find ZTree. One of ZTree's many functions is the
ability to parse large groups of files for a specific text string. A big
advantage in its design is that I can select groups of files to parse in
multiple directories and limit the file types to (for example) .txt or .doc
files so that the parsing engine doesn't waste time looking through a .bmp
file for text strings.
It's available as a fully functional download and registration is a modest $30
and well worth it.