I believe they are identical metallurgically speaking. However, 154CM is American, made by Crucible (I think). ATS-34 is Japanese, made by Hitachi (I think).
Here's the story as I've heard. 154CM was used some time ago as a premium steel. Was good stuff. At some point it started becoming lower quality steel - the tolerances weren't as high, overall quality was suffering. So a lot of manufacturers switched to ATS-34 because it was very good quality.
Now, 154CM is very high quality, and a lot of people think it's even better than ATS-34.
Now, keep in mind it's the same stuff - it's just how carefully they make it.
At this point, I'd say it's about six to one, half-dozen to the other.