Best form for object data?

[lmsmi1]

I have some OBJ files to import into my freeGLUT program. The game is like minecraft, so simple pixelated-like textures are a must. I'm trying to get as close to MC as I can, so I'm using Minetest (since it's coded in C++ with OpenGL) as my example. However my "blocks" need specific information such as:

ID
FLAGS (CAN_BUILD, NO_BUILD, SOLID_FORM, WALKTHRU_FORM, etc.)

I was thinking about storing this data in an XML document like so:

<?xml version="1.0"?>
<paths>
    <txtr>C:\Program Files\Minecraft Clone\Data\3D\Textures<txtr>
    <modl>C:\Program Files\Minecraft Clone\Data\3D\Models</modl>
</paths>

<blocks>
    <block>
        <id>bricks</id>
        <flag>CAN_BUILD</flag>
        <flag>SOLID_FORM</flag>
    </block>
</blocks>

<!-- AND SO ON... -->

Is XML the best way to store this data in your opinion? If not, what other syntax/form would you recommend?