Formats are straight forward these days. Just write out JSON, XML, HTML5 w/ microformats or even Yaml. The art is in the "schema" or how you store the files. Choose wisely with some knowledge of your requirements and it seems like it can work well.
Files on disk mean you can use all your great UNIX tooling to do all sorts of complex operations that would take you many many hours of skilled development to do with a database. Then there are all the possible things you could do with Git or (imagine!) ZFS! Versioning everything for free? Keep an activity log within a hierarchy. What kind of cool stuff can you do with that? I aim to find out.