I never understood the polarizing effect that the mere mention of Rivendell causes. Some people seem to need to worship Riv like it's some kind of religion, other people harbor a burning hatred. I don't know why people can't just take it for what it is.
I think their bikes are beautiful (the Atlantis, in particular, is stunning), but they do charge a premium. If you have the extra dough to spend, I don't think you'd ever regret buying the Rivendell, but you might get more for your money elsewhere. When it came time to get my dream bike, the Atlantis was on my short list, and I also looked at the Bruce Gordon Rock n' Road, but eventually opted for a custom-built frame from Bilenky Cycle Works.