Excel plays really nicely with XML (as it ought to, because XML is super cool). You might be pleased to learn that you can use XPATH expressions with a handy function called FILTERXML. It works fine for XML dumped straight into a cell, or you can apply it to a WEBSERVICE call. The function has only two arguments: the first is your XML and the second is your XPATH expression.
Try this very contrived example I’ve concocted to see it in action. Here’s a bit of XML you can paste into a fresh worksheet in cell A1:
Now enter this formula in any other cell, where I’m using XPATH to pull out the second item:
That’ll give you banana!