Brasso -- yes, overall, BG-42 is a better steel than ATS34. The differences are a bit more carbon, manganese, chromium, and 1.2% vanadium. Vanadium in steel makes the hardest carbides, and they are the first to form during heat treat. This should result in a bit more free chromium to make BG42 a bit better in the anti-corrosion department.
The two steels are fairly similar, except for that vanadium. Vanadium carbides also tend to be very small, so at least in theory, BG-42 should have at least some smaller carbides in it, which generally makes a steel stronger, as well as having molecules that don't wear as fast as the others in the steel.
This might not carry any weight with you, but Chris Reeve knives used to have ATS34 steel, but they changed to BG-42, in their quest to be the best.
But, as someone pointed out earlier, it all depends upon the heat treat.