>Is there a way to create a .prg from a running .exe and have it execute? I've tried to do this but when I build the .exe it complains about not being able to find the .prg file, which of course doesn't exist yet. I tried the EXTERNAL FILE command but it didn't work.

There is a program called CODEBLK by Randy J. Pearson (I believe it is in the download section). It parses a file or memofield and executes the code. It does have limitations but it is very good.