There are two critical differences that we should care about.
#1: The direction the liner is pushed is no longer down, but back. This should be inherently stronger. The liner is braced against the back of the tang as opposed to the bottom.
#2: The liner itself is braced against a bar embedded in steel liners. This means that when the pressure against the lock increases, it gets forced (compressed) inbetween this bar and the tang. Slipping becomes far less likely with the friction of both ends and strengh would appear to be essentially a non issue as now you must not only rip the liner out (and length wise, at that) but also that bar.
Of course, it's all useless if it doesn't have solid lockup. Strength has never been an issue in any of my liner locks and I really don't think it'll ever be one in a quality liner lock knife. I genuinely feel that poor lockup is by far the greatest cause of lock failure. People talk about their liner bowing, but I've put some ridiculous pressure on my two mid grade liner locks and I couldn't do it. Their lockup happens to be excellent, but obviously, this isn't always the case with liner locks.
That said, compression locks are superior to a liner lock in every way. Strength, reliability and ease of use. They shouldn't (but do) cost any more than a liner lock either.
They tend to be made with slight vertical play. I blame QC, as I don't see a design reason for this to exist.