+1  A: 

I believe you can. Try adding a reference to the Outlook 10 object library and then try this code:

Dim OL As Outlook.Application
Dim Msg As Outlook.MailItem
Set OL = New Outlook.Application
Set Msg = OL.CreateItemFromTemplate("c:\msg.msg")
' now use msg to get at the email parts
MsgBox Msg.Subject
Set OL = Nothing
Set Msg = Nothing

I can't vouch for any of the methods or properties of your Outlook.MailItem object (msg) but give it a shot and see.

C-Pound Guru