I personally LOVE using the XML format. One thing that I found cumbersome however, is viewing the XML. If you right click on the .dtsConfig file, choose to open it in Visual Studio Version selector, it gives you one looooong XML string.
Hold Ctrl, press K, then D, and VS auto formats the XML for you. This has saved countless hours of reformatting.
This small nicety makes a world of difference, and old developer friend of mine showed me that trick.