Binary format is much easier and smaller than text.
However, if you want to go down that road I suggest using XML...
Code:
<?xml version="1.0"?>
<rootnode>
<waypoint>
<origin>-64 1055 -231</origin>
<team>1</team>
<mod_specific game="tfc">
<class>scout</class>
</mod_specific>
</waypoint>
</rootnode>