No doubt about it. There are plenty of ARM-based mini PCs around with specs higher than the Pi's, but they do cost a little bit more. I like the Hackberry and Cubieboard (both from http://www.miniand.com) a lot, although it takes a bit of effort to get Linux up and running on the Allwinner A10 SoC that they use, and I haven't been able to successfully use one with an everyday RGB-based DVI monitor. The next one I want to try is the Wandboard Dual (http://www.wandboard.org/), based on a Freescale SoC that is supposed to be better documented than the Allwinner offerings.
Actually dvi monitor support for Allwinner A10 devices has been fixed a while back. I know because I spend en entire weekend banging all the bits in the hdmi controller 1 bit a time unitl I found one which dropped it from hdmi to dvi mode