I have been contemplating a similar need of choosing a common representation for the conversations (transport content) between my clients and servers via a facade pattern. I want a representation that is standardized, human-readable (brief), robust, fast. I want it to be lightweight to implement and run, easy to test, and easy to "wrap". Note that I have already eliminated XML by my definition, and by explicit intent.
By "wrap", I mean that I want to support other transport content representations such as XML, SOAP, possibly Java properties or Windows INI formats, comma-separated values (CSV) and that ilk, Google protocol buffers, custom binary formats, proprietary binary formats like Microsoft Excel workbooks, and whatever else may come along. I would implement these secondary representations using wrappers/decorators around the primary facade. Each of these secondary representations is desirable, especially to integrate with other systems in certain circumstances, but none of them is desirable as a primary representation due to various shortcomings (failure to meet one or more of my criteria listed above).
Therefore, so far, I am opting for the JSON format as my primary transport content representation. I intend to explore that option in detail in the near future.
Only in cases of extreme performance considerations would I skip translating the underlying conventional format. The advantages of a clean design include good performance (no wasted effort, ease of maintainability) for which a decent hardware selection should be the only necessary complement. When performance needs become extreme (e.g., processing forty thousand incoming data files totaling forty million transactions per day), then EVERYTHING has to be revisited anyway.
As a developer, DBA, architect, and more, I have built systems of practically every size and description. I am confident in my selection of criteria, and eagerly await confirmation of its suitability. Indeed, I hope to publish an implementation as open-source (but don't hold your breath quite yet).
Note that this design discussion ignores the transport medium (HTTP, SMTP, RMI, .Net Remoting, etc.), which is intentional. I find that it is much more effective to treat the transport medium and the transport content as completely separate design considerations, from each other and from the system in question. Indeed, my intent is to make these practically "pluggable".
Therefore, I encourage you to strongly consider JSON. Best wishes.