# wc -l t.xml 315479 t.xml
# wc -c t.xml 10377128 t.xml
Unlike Sublime, it doesn't syntax highlight for some reason, but it does open. Opens quite fast, too. Editing, cursor movement, pagination, etc. all super fast.
OS X 10.11.3, Atom 1.6.0 on a MacBook Pro (Retina mid-2015, 2.8GHz Core i7, 16GB RAM, AMD Radeon R9 M370X).
Yes, I'm using the built-in language-xml version 0.34.2.
Perhaps Atom is disabling syntax highlighting for sufficiently large files?
Edit: Interesting experiment. Open a small xml file, and syntax highlighting is active. Open a large xml file, and Atom doesn't syntax highlight. Copy and paste the contents of the large xml file without highlighting into the small file with highlighting, and after the text is copied there is a massive slowdown as Atom syntax highlights. I was able to scroll down the file and watch the syntax highlighting slowly propagate through the file.