I'm working on a Merb application using Haml as the templating language. As haml encourages moving logic out of the view and into helpers, I soon started thinking about removing the copy / text from the templates themselves. In the past I have either just left the text inline within the templates, or moved it into separate yaml files separated by controller. I've found that leaving text inline is more convenient, but uglier and involves using Ack a lot to find out where a particular piece of text is stored. Storing it in a yaml file is easier to search, but harder to come up with a sane naming schema for finding a particular piece of text in a given area.
I'm also curious about other approaches to this issue.