AHA! Been searching for this

So, how do you convert a .lit file into something useful for Mac osx users?
Check out Convert LIT.com:

Just for the record, the .lit format is reason #72984612 to hate Microsoft.

I hope this helps someone else looking for it. I still haven't found a mac .lit reader that reads the files directlly, but something command line that converts it is good enough for me. Now I can convert them into pdb's to read on my palm pilot.