These photographs show my MTH Premier ATSF 4-8-4 #2921 steam locomotive on Atlas O-54 curved track. This is an older model with PS1 but it is impressive nonetheless. I used a plastic triangle set against the side of the engine and a steel rule to measure the overhangs.
The cab overhang is 1-13/16 inches measured from the (outer edge of the) outside rail as shown in the photos. The corresponding overhang at the pilot truck is 1-3/8 inches. The second and third drivers are just about off the inner edge of the outer rail on the O-54 curve and the cab overhang looks very large.
It appears that the front and rear trucks have adequate range of motion to operate on Atlas O-54 but I think the rolling resistance would be very high. I would not operate this model on Atlas O-54 curved track.
MELGAR