If it needs saying, this alternative syntax is excellent for improving legibility (for both PHP and HTML!) in situations where you have a mix of them.
Interface templates are very often in need of this, especially since the PHP code in them is usually written by one person (who is more of a programmer) and the HTML gets modified by another person (who is more of a web designer). Clear separation in such cases is extremely useful.
See the default templates that come with WordPress 1.5+ (www.wordpress.org) for practical and smart examples of this alternative syntax.