I think Crockett & Jones are a notch above Cheaney. I'm not a leather expert so can't comment but C&J seem to have more attention to detail. I found with my Cheaney shoes there were some thread ends that I had to snip down.
Here are my C&J Pembroke & Cheaney Hythe side by side for comparison (both pebble grain although the C&J is derby and the Cheaney is oxford):
Another thing I'll comment - completely unrelated to quality of their shoes and my personal experience only - is customer service when I visited London. Crockett & Jones 92 Jermyn St (young adviser wearing a very nice Rolex DJ) gave me friendly attention and help to choose my shoes. Cheaney Lime St kind of ignored me (even though there was no other customers) and seemed less than enthusiastic to offer any assistance and only became more friendly when it was clear that I was serious about purchasing (and I had to really ask before he brought out the shoes i was looking for to try. I look quite young for my age and maybe he thought I was a student who can't afford the shoes or something.