How to read XML into a class/classes that matches its xsd

You could use the XmlSerializer to deserialize the XML text into instances of the classes generated by xsd.exe.
The XmlSerializer will use the metadata attributes placed on the generated classes to map back and forth between XML elements and objects.

string xmlSource = "<ResultSet><Result precision=\"address\"><Latitude>47.643727</Latitude></Result></ResultSet>";

XmlSerializer serializer = new XmlSerializer(typeof(ResultSet));
ResultSet output;

using (StringReader reader = new StringReader(xmlSource))
{
    output = (ResultSet)serializer.Deserialize(reader);
}