SQL Server : OPENXML vs SELECT..FROM when dealing with XML

SET NOCOUNT ON;
DECLARE @BankXml VARCHAR(MAX) = '<ROOT><ITEM BAF="HI" /></ROOT>'
DECLARE @ErrMsg VARCHAR(MAX) ='',@XmlId INT,@TranCount INT
CREATE TABLE #tmptbl(BAF VARCHAR(10))
IF (@BankXml IS NOT NULL)      
    BEGIN      
        EXEC SP_XML_PREPAREDOCUMENT @XmlId OUTPUT, @BankXml
        INSERT INTO #tmptbl(BAF)
        SELECT BAF
        FROM OPENXML(@XmlId, 'ROOT/ITEM', 1) WITH
        (
            BAF VARCHAR(10)
        )                          
    END
BEGIN TRY
    IF @@TRANCOUNT = 0
        SET @TranCount = 1
    IF @TranCount=1
        BEGIN TRAN
    IF 1=1
    BEGIN
        SELECT BAF FROM #tmptbl
    END    
    IF @TranCount = 1
        COMMIT TRAN
END TRY
BEGIN CATCH
    IF @@TRANCOUNT = 1 AND @TranCount = 1
    ROLLBACK TRAN
    SET @ErrMsg = 'Error : ' + @ErrMsg + ' : ' + ERROR_MESSAGE()
    RAISERROR(@ErrMsg,16,1)
END CATCH