For machine manipulation, I think it makes more sense to directly manipulate the AST.

For human manipulation, I think the cognitive overhead of mentally converting between the display syntax and the canonical syntax would far outweighs any gains in readability. But maybe your workflow is different than mine - If you have a lot of custom macros in your editor, I could see s-exps being useful (although, again, I think exposing and directly manipulating the AST would be less error prone)