Kenneth,
Thank you a million times. You created a masterpiece! It performs exactly the way I envisioned it. I am blown away how all the text files magically appear in the Test Area folder. I also like how you got the filename to write itself with that formula you included. I'm going to feel like Superman at work now because both of the scripts you have shared really speed up my work when used together.

My plan is to create a single seedfile that is embedded with unique symbol target text such as "#". Once I finish setting up my seedfile with all necessary unique target text, I'm going to make 120 copies of this seed file (using your script in this thread). Finally, using your other script that replaces text using a control file, I'm going to replace all of the unique symbol target text in one single batch process! This is the coolest set of tools ever!

Also, thanks to everyone who posted in this thread. Shrivallabha, thanks for the DOS BAT solution. It's also a cool solution, however I prefer to work with Excel.