The little booklet that came with your knife should have about 5 pages worth of metallurgy info. in it.
ATS-55 was made by Hitachi, supposedly specifically designed for the knife industry. This steel is comparable to ATS-34. Not QUITE enough experience with either to compare the performance of the 2. 420, for a working knife, is crap. If you look around the forums here, you'll notice that almost NO knives mentioned are 420. Those that are are quite obviously collectors' knives, such as Gil Hibben's work. I don't own any knives using 420 for this reason. If you want a low-care wall-hanger, it's great. Just don't expect to be able to use it to cut your way out of a paper bag. Spyderco, to my knowledge, is the only company using ATS-55. I apologize if that is incorrect.