[AccessD] Replacing multiple tokens in a text file?

I suppose the title says it all.  ;)

Given a text file with numerous (all different) tokens in it, how
would I replace them?  I mean, I know how to replace tokens in a
string, but I've never had to use a text file for a string before.

Should I stuff the entire text file into an array and wash it through
my detokenizing code until no more tokens are found?

Should I read the file line-by-line, replacing tokens as I go?

I'm just not sure how to get started here.

-Christopher-