If you take the brackets and the closing tags out (use meaningful space) it's a hell of an improvement[1], . A format I really like (ok it's aimed at html not xml) is the slim templating language[2]. It manages to pack the same information in but is massively more readable.
Yeah this is exactly where my hate towards Maven configuration comes from, but it's more a testimonial of a bad fit for configuration files than critique towards XML. Java enterprise application configuration has the tendency to be very "expert-friendly", and this is where XML got its bad name from.
[1] https://gist.github.com/opsb/9424457
[2] http://slim-lang.com/