We are in the process of implementing automated regression testing for our applications, and are looking for a solid batch-testing utility. We have QuickTest Professional 10.0, and it comes bundled with 'Test Batch Runner' which appears to be deprecated. It appears in previous versions there was 'Multi-Test Manager', which has been discontinued as well.
What alternatives exist, if any?
The canonical way to do this is via Quality Center, if you don't have QC you can use QTP's automation model from a vbs file. The documentation for this is available in Start -> Programs -> QuickTest Professional -> Documentation -> Automation Object Model Reference