We've tried it as well. First of all, we didnt have an 'extract' option after opening the CAB file (Windows7). So, we installed 7Zip to extract the files.
All nice and well, but at approx 90% of the file and after approx 2400 'broken file' errors, the program hangs.
We tried to enter the reg-data from the reg-file in the registry, but to no avail. It did, however, install the right account information, so new email could be downloaded, but non of the files recovered can be seen.
We uninstalled IM Xe and installed IM2, but this didnt help as well. We even tried to repair the CAB using 'Advanced CAB Repair', but it can't even repair the file, it goes to 'failed' immediately. Not really worth the $150 now ...
@Twiggy: The problem with the 2 CAB files is corrected automatically: the extraction process detects more CAB files and extracts them one after the other (it shows as one file, just like broken up ZIP, RAR or par2 files). It sees it as one complete file, broken up into several bits or parts. As long as you don't change the filenames, it should be extracted automatically, one after the other.
It looks like the datafile is totally wasted ... but any ideas towards (partial) recovery are more than welcome ...