If the AT ATH M-50s are within your budget, I would say just buy them.
There are lots of versions of AKG 240s, the best being the discontinued df model which was a bear to drive.
I have a pair of AKG 240 Studios, 1 year old, which I would sell in a flash and replace with M-50s.
They are not quite as good as the AKG 240df in a few subtle ways.
The AKG 701 is nice but pricey and ultimately not worth it unless you were rich and really valued comfort, because they are very comfortable.
The Audio Technica ATH M-50s, by contrast, are a little warm and snug but incredible performing, and they fold a little and come with a carrying pouch.
On the other hand, I would stay well away from any other Audio Technica headphone I've heard - couldn't wait to get rid of my ATH M40s that I bought unheard on a friend's advice (he was a drummer and they did play loud - I sold them to a dear old friend who played a mean saxophone and was very nearly deaf and needed to play them seriously loud to even hear anything)
So, to directly answer your question, if you cannot get the 50s, the AKG 240 Studios aren't shabby and are better than most out there, it's just that they're not really special in any particular way at all. I'd hold out for the 50s.