I've experimented with using the file system for storing configuration data where each config value is a single file. Nested structures just use directories. The name of the file is the field name. The file extension is a hint about the data type contained within (.txt is obvious, but I also liked .bool). Parsing data is trivial. I don't need any special viewing or editing tools, just a file manager and text editor. You can see when a specific config value was changed by checking the file update time. You don't have to load the whole configuration just to access one field. And you could conceivably TAR up the whole thing if you wanted to transmit it somewhere.
I use it to configure little sub-projects in my personal website. I really like it, but I shudder to think of the complaining I'd hear from other developers if I ever used it in a work project, just because it's not whatever they've ever seen before and would require a moment of two of thinking on their behalf to get over ingrained habits.