This would essentially put all configuration variables into one namespace, where they would be accessed via XPath expressions. You could pull and merge from various sources like properties files or XML files, get (optional) automatic saving / reloading, and (optional) property overriding.
The main reason for this would be to have a single file you could use for deployment (dev.xml, staging.xml, production.xml, etc) - drop this in your hot-deploy component and have it override the values in framework / applications.
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