I’ve seen a few ways to do this out there, usually involving a Perl script of some nature, but why go to the hassle? When iTunes exports the XML, just transform it using an XSL style sheet to convert to HTML. This might not be as easy for the lay user, but it is certainly better than manually scripting it.

First, download itunes2html.xsl and put it in the same folder as the exported library XML file.

That’s it. If you open the document in a browser that knows XML (like IE6), the XML will automatically be displayed after being transformed to HTML. Copy and paste the results into Excel, if you want. Works pretty well. Note that to actually get HTML source out of the thing, you’ll have to use a command line transform utility like MSXSL.