Once I get the Atlas F40PH I'll do a proper comparison and post here.
So I got my copy of the Atlas Premier F40PH and it's a pretty nice model. The Lionel is nice too, and to be fair, it's not a 100% fair comparison because they are of different builder phases, while both are in "Phase III" paint.
For the Lionel model...
Pros
- Kinematic pilot that doesn't always swing out
- Correct number of steps on the front pilot
- Nicer overall pilot
- Runs in notch 8 at start (although, somehow I disabled this and I don't know how)
- Legible builder plates
Cons
- Rear steps are incorrect
- Kinematic pilot doesn't always center itself
- Sounds are little "staticy"
- Number on the sides seems to be an incorrect font
- Bright white LEDs
- No doors that open
For the Atlas model...
Pros
- Far more detailed trucks
- Correct number of rear steps
- Crystal clear sounds
- Correct number size/font
- Warmer LEDs
- Opening doors all around
Cons
- Swinging pilots
- Strobes are yellow
- Incorrect number of front steps.
- Does not run in notch 8 by default
Some general comments. The Lionel does at times look a little "gap toothed" in comparison. Though it really depends on the angle you look at it. It might be in part due to the fact that the EMD Ph1 version with it's smaller diameter air tanks make that more apparent. The Atlas model does have a bit more space between the trucks and frame. I think this could maybe be remedied by grinding down the two "pivot" points on the truck where the frame rests. Probably 1/16th of an inch would do it, and improve the appearance even more. The Lionel model seems to have the shell extend down with a black trim to better hide it's gap. I didn't remove the shell to determine if it's the shell or frame that has it though.
The frame and main cowl of the Atlas unit is a hair longer, also the bolsters on the trucks are thicker, and I think this is the main thing that makes the trucks look bigger. To me, they appear to have nearly the same wheelbase, with the Lionel shorter by like maybe 1/16", maybe as little as 1/32", which would be 1.5-3" too short. I need to find my calipers and do a better measurement. Though neither suffer as badly as some of the Baldwin RF-15/16s out there with the completely wrong length truck underneath it.
Interestingly, both seem to have the EXACT same shade for the blue stripe. I guess that means the older MTH AmFleet cars are just plain wrong. Overall, to me, the Atlas model looks "better" but only by a hair, and only from an angle above eye level because of the frame/truck gap. The Lionel suffers at eye level too because the trucks look "dainty" because of those thinner bolsters and that ever so slightly shorter wheelbase.
Here are some pictures.