Thank woody_woodward for this one:
CODE
SET /P var=<"c:\stuff.txt"
Edit:
"SET /P" sets a variable from the prompt, while "<" redirects the contents of a file to a command.
This one eluded me for ages, until woody came to the rescue.
Obviously you don't need the quotes around the file path - but I thought I'd put them there so that you can change the path without worring.