To clarify, the point of picking an existing command set is the possibility of hooking up an existing C compiler (or a BASIC compiler, perhaps, like Boriel ZX Basic), which would make it much easier to use for those who aren't into the assembly code programming.
AVR is a good idea, but there are some minor hiccups with it. One is that it is a (modified) Harvard architecture system, with code and data split into separate spaces, and not intended to be self-modified. Another is that while I can easily re-target Z80 or 6502 C compiler to this design, modifying a modern gcc seem to be much more difficult. Another thing with Z80 is that it has the I/O space, but anything else will require to have memory mapped registers, and it makes the architecture less clean. Like, the regs has to have a reserved memory area.
I considered 6502 at first, because it is much easier to emulate, thus VM would be much faster. I believe it is a good pick, but I kinda felt that 1-bit stuff is more related to Z80.
Another crazy idea I had was to actually have a few VM cores to run different binaries within the same specs. Maybe it is actually a good idea, like, just imagine - you can pick Z80 or 6502 or AVR instruction set, and implement the same code for the otherwise same platform in either of the instructions. What a test bed for direct comparisons (sans the reduced T-states). Also enables a wide choice of the existing tool chains.
As for the sound system design, I can actually join a few approaches into the same setup. I drafted the 8x 1-bit system, but I can also just drop in 8 registers to auto reset each channel, it is very easy and will look just as clean.