Perl code can be remarkably compact if your requirements are loose (as they appear to be).
#!/usr/bin/perl
use strict;
my $important;
while ( ( $_ = <DATA> ) !~ /^\-{10,}$/ )
{ $important = $1 if /^Important Text: (\d+)$/i; }
while ( <DATA> )
{ print join ( ",", $important, split ( /\s+/ ) ) . "\n"; }
__DATA__
Date 08/17/11 Report Page 1
Time 12:46
Important Text: 1
Misc Text: All
Misc Text: Sec
** Indicates
APPTEXT
PLINE SCODE PCODE FID SEC unsec fcs
----------------------------------------------------------------------
+---------------------------
TEST TT TT00 TT00.1 NO xxxx TTD
TEST TT TT00 **TT00.2 YES XXXXXX
TEST TT TT00 **TT00.3 YES XXX
TEST TT TT01 TT01.1 NO XXXXXXXXXXX TT
TEST TT **TT02 TT02.1 YES XXXXX
Output:
1,TEST,TT,TT00,TT00.1,NO,xxxx,TTD
1,TEST,TT,TT00,**TT00.2,YES,XXXXXX
1,TEST,TT,TT00,**TT00.3,YES,XXX
1,TEST,TT,TT01,TT01.1,NO,XXXXXXXXXXX,TT
1,TEST,TT,**TT02,TT02.1,YES,XXXXX
