Sorry to nit-pick, but given a template like this:

  With A, B, C is D.
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the most common examples are things like "With Ripoffsky, a first-round draft pick, Green Sox manager Frump is unlikely to see a penant this year." That is:

 A is (was?) B.
 C has A.
 C is D.
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Of course, a non-trivial part of the "project" at hand is to pick a suitable "corpus" of sentences that lend themselves to this sort of treatment -- and I don't know any automated way to handle that either.

There are some fairly well-developed means for spotting "entities" (especially "named entities") -- i.e., the referent noun phrases that make up the subjects and objects of factoids. There has even been some progress on trying to link pronominal references to "named entities" with some degree of success (yes, this is much harder, and quite impossible to do algorithmically for a large percentage of cases -- humans often get this wrong). And some progress on "roles" of entities within sentences (agent, recipient, direct-object etc), but again with much left to be desired.

Still, if the idea is simply to provide some guidance to humans who have to come up with flash-card text (or trivia questions and answers), there are a number of Part-of-speech (POS) taggers out there that can at least do a decent job of labeling nouns, verbs, prepositions, etc. Whether this can be a useful aid to flash-card authors is another question, but there's some room for the imaginative GUI designer to try things out...

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