A few ideas:
1. Download the beta version of Office 2007. Excel supports up to 1m rows.
2. OpenOffice.org already supports this.
3. Use a tool like Monarch to parse and filter your list.
4. If you are so inclined, use a programming language that supports text manipulation (most do). A few that have worked well in the past for me depending on the platform: Awk, VB, and Perl. Any language that supports looping, text files, and regular expressions should do well.
Hope this helps.