What are some alternatives?
When comparing Replace Text and grep, you can also consider the following products
Multi String Replacer - Replace multiple strings at once!
grepWin - grepWin is a simple search and replace tool which can use PCRE regular expressions to search for...
PowerGREP - Quickly search through large numbers of files on your PC or network using powerful text patterns to find exactly the information you want. Search and replace with plain text or regular expressions to maintain web sites, source code, reports, ...
AstroGrep - AstroGrep is A Microsoft Windows GUI File Searching (grep) utility.
Online String Swap - Replace multiple strings at once in your Web Browser!
dnGREP - dnGrep allows you to search across files with easy-to-read results.