Different documentation formats are suitable for different scenarios.
XML comments are best suited for automatically creating help files and Intellisense. If necessary, they are more detailed than other methods, since they require certain tags to create documentation. Although the syntax might be better, remember that they were created back when everyone thought XML was a cool idea.
For general commenting, you can use a competent programming style and tools like nocco to create and display HTML pages. The tool extracts comments and displays them on an HTML page along with code. The nocco page itself is nocco's output on nocco.cs
Nocco even uses Markdown for formatting.
Of course, you can mix and match methods, for example. use XML comments for public methods, competent comments for internal comments.
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