Outlook should be able to save an email template.

[notsirk]

I find myself typing in the same email messege with just a few points of
difference. As in Word, Excel, etc. it would be great to be able to save a
template where you would only have to enter in fields of data and change the
recipient if necessary.

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[Sue Mosher [MVP-Outlook]]

It can, if you turn off Word as the editor long enough to create the item (or open the item you saved in Drafts) and use the File | Save As command.

--
Sue Mosher, Outlook MVP
Author of Configuring Microsoft Outlook 2003

and Microsoft Outlook Programming - Jumpstart for
Administrators, Power Users, and Developers