Going through some really old cookbooks, I found a recipe for "Beef Tea" and a few others along a simaler line. I tried it last night, finally. Had to get some canning jars that were suitable size, most of what I've had in the house is either plastic or glass that's too small.

Essentially, this recipe is a chop up a hunk of beef round (basic info on beef cuts here), stuff in a jar with water, and simmer for about an hour.

( Click for actual recipe )

The Pros:
It does provide liquid protein, in the form of whatever the water is holding in a suspension that it's leeched off the meat chunks.

The Cons:
If you leave the salt out at the end, it will be VERY bland. Great if you're on a low-salt diet by choice or necessity, but otherwise you will need seasoning of some variety.

Also, if you're, ah, "cravin' the flavor", shall we say... this isn't going to work. The main reason is that simmering this for an hour means it's in a "well done" state of doneness. To my normal preferences of a step or two above raw, this is pretty grossly overcooked. Your mileage may vary, depending on how cooked you prefer it.

OTOH...
It might, however, be an ok base to use as a soup starter, stew base, or a base to add your choice of beef broth concentrate. Or, if you're not as obsessed with having it rare, it might work out for you better than it would for me. :)