iterando dados XML no sql server 2005

Supondo que seu XML de exemplo seja algo assim:

<MissingDS>
  <MissingTable>
    <MissingColumn>abc</MissingColumn>
    <TableName>tblMyTable</TableName>
    <PhysicalColName>table_abc</PhysicalColName>
    <Grantor_Grantee>nobody</Grantor_Grantee>
  </MissingTable>
  <MissingTable>
    <MissingColumn>xyu</MissingColumn>
    <TableName>tblMyTable2</TableName>
    <PhysicalColName>table_xyz</PhysicalColName>
    <Grantor_Grantee>nobody2</Grantor_Grantee>
  </MissingTable>
</MissingDS>

Então você pode analisar isso com o novo suporte XQuery do SQL Server 2005 assim:

DECLARE @MissingXML XML
SET @MissingXML = CAST(@MissingRecordsXML AS XML)

SELECT
    Missing.Rec.value('(MissingColumn)[1]', 'varchar(1000)') AS 'MissingColumn',
    Missing.Rec.value('(TableName)[1]', 'varchar(100)') AS 'TableName',
    Missing.Rec.value('(PhysicalColName)[1]', 'varchar(100)') AS 'Physical',
    Missing.Rec.value('(Grantor_Grantee)[1]', 'varchar(100)') AS 'Grantor_Grantee'
FROM
    @MissingXML.nodes('/MissingDS/MissingTable') AS Missing(Rec)

Claro, se você pode SELECT, você também pode INSERT essas mesmas linhas de dados em uma tabela com bastante facilidade:

INSERT INTO 
  dbo.MissingDSTable(MissingColumn, TableName, PhysicalColName, Grantor_Grantee)
    SELECT
       Missing.Rec.value('(MissingColumn)[1]', 'varchar(1000)') AS 'MissingColumn',
       Missing.Rec.value('(TableName)[1]', 'varchar(100)') AS 'TableName',
       Missing.Rec.value('(PhysicalColName)[1]', 'varchar(100)') AS 'Physical',
       Missing.Rec.value('(Grantor_Grantee)[1]', 'varchar(100)') AS 'Grantor_Grantee'
    FROM
       @MissingXML.nodes('/MissingDS/MissingTable') AS Missing(Rec)

Espero que isso ajude um pouco

Marco