You are looking at the HTML representation of the XML format.
HTML is good for debugging, but is unsuitable for application use.
Specify the format parameter to change the output format.
To see the non HTML representation of the XML format, set format=xml.
See the complete documentation, or API help for more information. 
<?xml version="1.0"?>
<api>
  <query-continue>
    <logevents lestart="2012-03-06T18:36:32Z" />
  </query-continue>
  <query>
    <logevents>
      <item logid="662" pageid="0" ns="2" title="User:Vellius" type="newusers" action="create2" user="Spypoet" timestamp="2012-03-20T18:59:31Z" comment="">
        <param>16</param>
      </item>
      <item logid="661" pageid="337" ns="0" title="Scene Running Guide" type="patrol" action="patrol" user="Booster Gold" timestamp="2012-03-10T07:07:31Z" comment="">
        <patrol cur="741" prev="0" auto="1" />
      </item>
      <item logid="660" pageid="336" ns="0" title="Princess Amethyst" type="patrol" action="patrol" user="Brock" timestamp="2012-03-09T04:40:59Z" comment="">
        <patrol cur="740" prev="739" auto="1" />
      </item>
      <item logid="659" pageid="336" ns="0" title="Princess Amethyst" type="patrol" action="patrol" user="Brock" timestamp="2012-03-09T04:40:45Z" comment="">
        <patrol cur="739" prev="736" auto="1" />
      </item>
      <item logid="658" pageid="326" ns="0" title="The Question" type="patrol" action="patrol" user="Brock" timestamp="2012-03-09T04:36:57Z" comment="">
        <patrol cur="738" prev="737" auto="1" />
      </item>
      <item logid="657" pageid="326" ns="0" title="The Question" type="patrol" action="patrol" user="Brock" timestamp="2012-03-09T04:34:42Z" comment="">
        <patrol cur="737" prev="731" auto="1" />
      </item>
      <item logid="656" pageid="336" ns="0" title="Princess Amethyst" type="patrol" action="patrol" user="Spypoet" timestamp="2012-03-09T04:34:25Z" comment="">
        <patrol cur="736" prev="0" auto="1" />
      </item>
      <item logid="655" pageid="335" ns="6" title="File:PrincessA01.jpg" type="upload" action="upload" user="Spypoet" timestamp="2012-03-09T04:33:11Z" comment="" />
      <item logid="654" pageid="333" ns="0" title="2012-03-04 - Rockstarz Karaoke Bar Opening Night" type="patrol" action="patrol" user="Poison Dancer" timestamp="2012-03-07T10:25:00Z" comment="">
        <patrol cur="734" prev="733" auto="1" />
      </item>
      <item logid="653" pageid="333" ns="0" title="2012-03-04 - Rockstarz Karaoke Bar Opening Night" type="patrol" action="patrol" user="Poison Dancer" timestamp="2012-03-07T10:24:26Z" comment="">
        <patrol cur="733" prev="730" auto="1" />
      </item>
    </logevents>
  </query>
</api>