CrunchBang and Arch are very different distros in almost every way. I like them both very much. I personally have chosen CrunchBang because everything works perfectly out-of-the-box for my needs (the exact opposite of The Arch Way) and I get a working system in a fraction of the time required to get Arch up and running. Obviously however, for many users, that time spent installing and configuring Arch is an enjoyable process, in fact one of the main reasons for choosing Arch.
There is also a project called ArchBang that combines the two.
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