Yes, but the term "ultra low power" has little real meaning just like "pico power". The pico power parts have low static current draw, but that is only an issue in apps that have to remain in sleep mode for more than 99% of the time. Otherwise the SAM7 parts were designed for very low active power and were made in a newer process than the AVRs, so they get better power consumption. I don't think the Xmega parts are going to do any better.
Who knows what is going to be out tomorrow? I am trying to get info from LM on the next generation of CM3 parts. Our stuff has to be low power, but the uA of sleep current mean little. It is the active current that counts to us. By this time next year I fully expect the CM3 offerings to be dominating the new product announcements.