Octane,
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Strict//EN"
    "http://www.w3.org/TR/xhtml1/DTD/xhtml1-strict.dtd">
<html xmlns="http://www.w3.org/1999/xhtml">
<head>
  <title></title>
</head>
<body>
<div>     </div>   <p>        </p>     <p>        </p>   123
<script language="JavaScript" type="text/javascript">
alert( document.getElementsByTagName('div')[0].nextSibling ); // object text
function normalize(element) {
	var i, textNodes = [];
	
	(function (element) {
		var i, node, nodes = element.childNodes, length = nodes.length;
		for (i = 0; i < length; i++) {
			node = nodes[i];
			if (node.nodeType == 3 && !node.nodeValue) {
				textNodes.push(node);
			} else if(node.hasChildNodes()) {
				arguments.callee(node);
			}
		}
	})(element);
	for (i = 0; i < textNodes.length; i++) {
		textNodes[i].parentNode.removeChild(textNodes[i]);
	}
}
normalize(document.body);
alert( document.getElementsByTagName('div')[0].nextSibling ); /// object text
</script>
</body>
</html>
Тестил под Opera.