I recently wrote up a post about my experience with getting XML data into Drupal nodes using Migrate: http://sysadminsjourney.com/content/2010/07/14/case-study-migrating-xml-drupal-using-migrate
I cannot speak about Feeds, since I haven't used it, but my initial impression was that Migrate was more geared for one-time imports and migrations; where Feeds is more suited for recurring imports. I'd love to hear about someone's compare/contrast experience on both. Justin
