So, you're the ARM guy. That's just great.
If you know Linux then you should surely check out the Beaglebone. They include an ARM. The ARMv7 is the most followed instruction set so I'm assuming its required to program those chips. I've had more experience with AVR Studio(developed by Atmel) than any other IDE. Arduino product line is based on ATmega controllers.
I haven't purchased an Arduino but I did buy an ATmega16 for around 500 INR. Remember that it was just the controller. I had to buy other peripherals but that was specific to my project. The most pricey component was an ultrasonic sensor HC-SR04 at around 600 INR or so. Well, just saying...
But you are great because you have good programming experience. Firmware coders already possess enough information about an OS. So all they have to do is learn the hardware, which is nothing but.... the datasheet.
I'm not the best person to answer your query because I have never worked on Linux before, but if you know Linux AND Firmware then you are already light years ahead of us
Just focus on ARM based boards as they will utilize your previous knowledge about Firmware(the hardware level) and thereby exploit your maximum potential.
If however, you are tempted by the Arduino then you should learn about the ATmega controller by reading its datasheet AND practice a little bit with the libraries provided with the Arduino IDE here at their website. Just take a look, I'm sure you'll feel at ease as its all C++ but different functions.
Tutorials
So, decide accordingly. As for the price, I think there are better people than me to help you with that because I really didn't buy it as I just assembled the circuit using an isolated ATmega16 and the supporting peripherals. IMO the Arduino must be cheap, but the Beaglebone is a serious contender coz at $45 it comes around to 2800 INR and you don't have to spend on extra peripherals as all of it is provided out of the box.
Still, it'd help if somebody confirms they are legit distributors, as recommended by ElectronicsForYou
Mouser Electronics
I conclude with an interesting comment comparing Raspberry Pie and Beaglebone from a developer's point of view, both having an ARM chip
Ignore other comments as they are mostly coming from n00Bs with no experience other than COD
I don't think you need to work with all that unless you want to learn everything. In most cases you just need to follow the instructions carefully and then you're done building the circuit.
From what I see, you need a programmer's model of the hardware. Like registers, memory banks, timers, counters, LCD architecture... that should be comfortable for you as you already have experience. Just go through the datasheet and code examples.