Localadm, have you considered partitioning your table either horizontally or vertically?

Obviously it is not precisely what you are asking for, but depending on your situation it could bring greater benefit, especially if there are frequent queries against the table that do not need the text column, you could easily split it off into a table by itself with a primary-foreign key relationship to the main table and keep the main table smaller and faster that way.

If there is some logical way of splitting it into two logical pieces that would give you smaller files to work with and again mean you don't have to query the entire data set when you know the result you need will be in one or the other. You could, naturally, use a view to union the tables it was split into for when you do need to query the entire thing.