If you provided an example of the file you have and what you want to pull out I could give you an exact answer, so please feel free to post an example file and what you want out of it.
With simpleXML it really is simple to iterate over an xml file or string and pull elements from nodes. However if you are using SimpleXML to do this, you're better using "SimpleXML xpath" do a google for xpath queries to get more info on this.
But the best way to do this is to use "DomXPath" (google it!) as its supposed to be more powerful than SimpleXMLXPath