I think I am misunderstanding what is meant by Protestantism. Are we basically talking about the whole division that is not Catholic?
The Anabaptist subculture is actually one of the earliest branches off of Lutheran Protestantism, and it formed soon after the Reformation. The Anabaptist faith was born from leaders (for example, Menno Simons, ) who were ex-Catholic Monks (as were many who turned Protestant) who wanted to take the interpretation of scripture a step further yet. Disagreement with infant baptism was the main difference that Protestants had, and they were called Anabaptist thereafter.
So technically speaking, Anabaptist subculture comes from a background that is "intellectually robust" and "theologically sound." But as they formed communities that were "not of this world" they also, through the centuries, formed schools where theology and academia became less and less. I, as someone who identifies with many Anabaptist traditions (as well as coming from a Mennonite culture), find this a bit tragic, but I also don't blame the leaders for trying an alternate way of life. But at the same time, I wonder why you ask (@codysblackbox) if there is a community as intellectual as the Protestants? Does being Protestant make your beliefs more "intellectual." Do all protestants really have a deep theological understanding of biblical concepts? I would argue that the majority of Protestants (just look at mainstream North America) are not "intellectually robust." But perhaps I am not thinking of the right Protestants? Again, I am sort of new at this, you're going to need to help me out.
Anyways, to answer your original question, I think there are many communities forming that hold many Anabaptist views and are still "theologically sound." I would point you to an online blog that I frequent called jesusradicals (I can't link yet-- I'm a newbie, but you'll find it the top option through Google.). I can't say I agree with everything discussed, but hey, that's what makes it an interesting and open community. I hope you'll give it a visit.
Now, to get back to what we were talking about before, as far as Atonement is concerned, I shall share this quote: "God does not need the cross to forgive us. But some of us needed the cross to be able to really accept that forgiveness. God does not need the cross to love us. But many of us needed the cross to really grasp that love." (Derek Flood).
I really wouldn't do a satisfactory job (pardon the pun!) in describing Christus Victor theory. The one essay that convinced me to change my views from Substitution to Victor (and also where I found that quote) is on Derek Flood's blog therebelgod and you will find a link to his essays (sorry I can't link!). It's a really long read, and you already seem to have your views settled (which is fine; you seem to be quite knowledgeable on the subject, neither do I necessarily oppose PS view, nor think it is, by any stretch, "dangerous."), so I wouldn't really expect you to read the whole thing. But again, if nothing else, I think it will be something worth chewing on if you ever have the time.
More then anything, I find the PS view brings up a range of questions that can give a person a funky view of God's love and character. I would suggest reading a bit of "part 2" of the above essay. But again, I don't think this is the view held by most (I tend to think the majority of people aren't aware of such theories) Anabaptists, so identifying with Anabaptist tradition certainly doesn't mean you're getting the Theology package deal of any sorts, much less the one that includes Christus Victor.
Peace! (and sorry for the length).