A lot of people think because AVRs are 8-bit, they are just toys. And since ARM cortex processors are about the same price, that AVRs are not a good choice.
AVRs, like ARM Cortex, are SOCs (System On a Chip) but have really excellent peripheral devices compared to the ARM Cortex I've used. The AVR's internals are better documented, more consistent, more powerful and easier to use. The AtXmegas in particular, with their hardware event system and DMA controller.
ARMs have all the same peripherals but they are not as well thought out. However, if you need to do a lot of 32-bit math, ARM is a better option.
Edit: Note that a 32MHz atxmega AVR can do about 128k 32-bit floating-point multiplys per second.