How do I go about this?
I'll try and explain what exactly is my requirement
I need to form my own XML/HTML displaying only the textual part but with
complete formatting.
Therefore I need to know each place where font is changing or as you
mentioned Check each character and see what font it is

Here is an example of what I need
This is an XML generated from Word I need it simple format
<w:p>
- <w:r>
 <w:t>This testing is for the conversion of Word doc to flash and also to
test for</w:t>
 </w:r>
- <w:r>
- <w:rPr>
 <w:b />
 </w:rPr>
 <w:t>BOLD</w:t>
 </w:r>
- <w:r>
 <w:t>and</w:t>
 </w:r>
- <w:r>
- <w:rPr>
 <w:i />
 </w:rPr>
 <w:t>ITALICS</w:t>
 </w:r>
- <w:r>
 <w:t>and this is</w:t>
 </w:r>
- <w:r>
- <w:rPr>
 <w:u w:val="single" />
 </w:rPr>
 <w:t>UNDERLINE</w:t>
 </w:r>
- <w:r>
 <w:t>and this is</w:t>
 </w:r>
- <w:r>
- <w:rPr>
 <w:b />
 <w:i />
 <w:u w:val="single" />
 </w:rPr>
 <w:t>BOLD,ITALICS,AND UNDERLINE</w:t>
 </w:r>
 </w:p>

I need it like

<p><font name="Times New Roman" size="10">This testing is for the conversion
of Word doc to flash and also to test for<b>BOLD</b>and
 <i/> ITALICS</i>and this is<u> UNDERLINE</u>and this is
 <b><i><u> BOLD,ITALICS,AND UNDERLINE</b></i></u></font></p>