I was doing some work on the MOSS Search API to execute a few custom queries. I also wanted the Search Engine to return the blurb of text that contains the occurence of the searched term.
A little digging around and I discovered there is a managed propperty that contains this.
The managed propperty is HitHighlightedSummary (just in case any of you are stumbling down this route too).
Cross-posted from tariqayad.com