There's more power and flexibility to be had in programs like Blinkx (www.blinkx.com, free), Lycos Hotbot Desktop (www.hotbot.com/tools, free), Enfish (www.enfish.com, $50 and $200) and DT Search (www.dtsearch.com, $200).
This is odd. I've tried several similar programs, such as FileHand and X1. I've never heard of these despite searching for them. This is a search failure! (I do use Lookout VERY heavily -- it's my right hand these days.)