As far as I know, the Windows registry is no longer the preferred way of storing configuration if you are using .NET - most applications now make use of System.Configuration [1, 2]. Since this is also XML based it seems to be that everything is moving in the direction of using XML for configuration.
If you want to stay cross-platform I would say that using some sort of a text file would be the best route to go. As for the formatting of said file, you might want to take into account if a human is going to be manipulating it or not. XML seems to be a bit more friendly to manual manipulation than INI files due to the visible structure of the file.
As for the angle bracket tax - I don't worry about it too often as the XML libraries take care of abstracting it. The only time it might be a consideration is if you have very little storage space to work with and every byte counts.
[1] System.Configuration Namespace - http://msdn.microsoft.com/en-us/library/system.configuration.aspx
[2] Using Application Configuration Files in .NET - http://www.developer.com/net/net/article.php/3396111
