ProviderFactory store and load settings

I'm thinking that the only settings the ProviderFactory should store should be which items that are selected. The providers and providertypes should probably be stored in an xml-file that was editable by humans and no more, maybe even in the web.config. It should probably have a syntax similar to that one used for connectionstrings etc. in the web.config-file. I'm thining about something like this:

<ProviderFactorySettings>
    <ProviderTypes>
        <add type="System.Web.IProvider1" assembly="System.Web, Version=1.0, Publictoken=..." />
    </ProviderTypes>
    <Providers>
        <add type="System.Web.Provider1" assembly="System.Web, Version=1.0, Publictoken=..." />
    </Providers>
</ProviderFactorySettings>

The selected-config file should probably just be autogennerated, and it's syntax doesn't really matter as long as XMLFormatter can handle it.