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I have a friend that discovered how to change his background and fonts in such a way as to make your eyeballs quiver in their sockets. This pushed me find a solution that required a little digging. In the case other Outlook 2002 users would want to receive in Plain Text here is the link to the Microsoft Support [support.microsoft.com] page for a solution. It requires a quick registry edit.
BTW, I found that the Eudora option of not using MIcrosoft Viewer wasn't exacty text-only. It still picked up embedded programs. I think it was trying to be helpful, but it's one of the reasons I defected.