There is a question somewhere on Stackoverflow, although i cannot find it now, that reminded the poster that .value does not return the value that .exists.
That is because .value is always written as asking for the [1] item, where .exist looks everywhere.
Example
Given a hypothetical xml document containing two customers:
<Customer>
    <Name>Ian Boyd</Name>
    <IDInfo>
        <IDType>1</IDType>
    </IDInfo>
</Customer>
<Customer>
    <Name>Kirsten</Name>
    <IDInfo>
        <IDType>3</IDType>
        <IDOtherDescription>Firearms Certificate</IDOtherDescription>
    </IDInfo>
</Customer>
i want to return the Name, IDType, and IDOtherDescription for any customers who have an IDType of 3 (Other):
DECLARE @xml XML;
SET @xml = 
'<Customer>
    <Name>Ian Boyd</Name>
    <IDInfo>
        <IDType>1</IDType>
    </IDInfo>
</Customer>
<Customer>
    <Name>Kirsten</Name>
    <IDInfo>
        <IDType>3</IDType>
        <IDOtherDescription>Firearms Certificate</IDOtherDescription>
    </IDInfo>
</Customer>'
--Wrap it up in a table, cause it makes it look more like my real situation
;WITH BatchReports AS (
    SELECT @xml AS BatchFileXml
)
SELECT
    BatchFileXml.value('(//Name)[1]', 'varchar(50)') AS Name,
    BatchFileXml.value('(//IDType)[1]', 'varchar(50)') AS IDType,
    BatchFileXml.value('(//IDOtherDescription)[1]', 'varchar(50)') AS IDOtherDescription,
    *
FROM BatchReports
--WHERE BatchFileXml.value('(//IDType)[1]', 'varchar(50)') = '3'
WHERE BatchFileXml.exist('//IDType[text()="3"]')=1
Since the .exist is satisfied, it returns a row:
Name     IDType IDOtherDescription
-------- ------ --------------------
Ian Boyd      1 Firearms Certificate
Except that's not what i wanted. I wanted the values where IDType = 3.
Things get even more complicated, where there are multiple IDType entries:
<Customer>
    <Name>Ian Boyd</Name>
    <IDInfo>
        <IDType>1</IDType>
    </IDInfo>
</Customer>
<Customer>
    <Name>Kirsten</Name>
    <IDInfo>
        <IDType>1</IDType>
    </IDInfo>
    <IDInfo>
        <IDType>2</IDType>
    </IDInfo>
    <IDInfo>
        <IDType>4</IDType>
    </IDInfo>
    <IDInfo>
        <IDType>3</IDType>
        <IDOtherDescription>Firearms Certificate</IDOtherDescription>
    </IDInfo>
</Customer>
And even more complicated when you can find /IDInfo nodes in other levels:
<Customer>
    <Name>Ian Boyd</Name>
    <IDInfo>
        <IDType>1</IDType>
    </IDInfo>
    <ThirdPartyInfo>
       <IDInfo>
        <IDType>3</IDType>
            <IDOtherDescription>Sherrif Badge</IDOtherDescription>
       </IDInfo>
    </ThirdPartyInfo>
</Customer>
<Customer>
    <Name>Kirsten</Name>
    <IDInfo>
        <IDType>1</IDType>
    </IDInfo>
    <IDInfo>
        <IDType>2</IDType>
    </IDInfo>
    <IDInfo>
        <IDType>4</IDType>
    </IDInfo>
    <IDInfo>
        <IDType>3</IDType>
        <IDOtherDescription>Firearms Certificate</IDOtherDescription>
    </IDInfo>
</Customer>
The end result is the same. I need a query to return the values that exist:
Name     IDType IDOtherDescription
-------- ------ --------------------
Ian Boyd      3 Sherrif Badge
Kirsten       3 Firearms Certificate
Bonus Chatter
When i designed the system two years ago, and chose to use XML data type, i figured it would be useful when there's an emergency. I can use some XPath to filter through the raw xml. I forgot how impossible XPath, and XPath in SQL Server is. Four hours of staring at documentation and web-sites; i'm hungry and tired.