On the Cobol issue: Yes, I would rather do XML than Cobol :) I am hardly a XML guru, but I already like it more than Cobol. Technically, Code is data. Uniform data, since it is built up out of keywords and variables. A lex parser backend would ofcourse be handy, since you have to DO something with the code.
Two of many nice things about XML :

<DIR>

XML was designed to describe data.

</DIR> <DIR>

XML tags are not predefined in XML. You must define your own tags.

</DIR>

Greetz
Beatnik
... Quidquid perl dictum sit, altum viditur.