Just for the sake of completeness (and also because such approach does
  not get the attention it deserves in my view):
 
  XML --> ConTeXt --> PDF

  or 

  XML --> XSLT --> ConTeXt --> PDF


Agreed, or the same with LaTeX instead of ConTeXt.
XML --> XSLT --> LaTeX --> PDF
is for example how the pdf version of the MathML spec is produced (all
the stylesheets required are in the source XML zip file linked from the
spec). 


David


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