Nope.

Perhaps this horribly evil concoction?

use Data::Dumper;

my $data;
{
    undef $/;
    $data = <DATA>;
}

my @text = grep { /^\S/ } map { s/^\s+|\s+$//g; $_ } $data =~ />([^<>]
++)/g;
print Dumper(\@text);

__DATA__
<HIT>
  <FIELD NAME="body">
  <sep />
  Self-Archiving E-mail Messages in
  <key>Outlook</key>
  The following e-mail self-archiving
  <sep />
  create an Archive folder/.pst file. See
  <key>Outlook</key>
  2003 .pst file Management for instruction
  <sep />
  your messages. Select your
  <key>Files</key>
  (This refers to your primary...
  <sep />
  </FIELD>
</HIT>
[download]