How can I convert XML into a Python object?

Question

I need to load an XML file and convert the contents into an object-oriented Python structure. I want to take this:

Answer 1

If googling around for a code-generator doesn't work, you could write your own that uses XML as input and outputs objects in your language of choice.

It's not terribly difficult, however the three step process of Parse XML, Generate Code, Compile/Execute Script does making debugging a bit harder.