fab51,
When the time comes to rebuild a '54 235 for my '54 Suburban (that I am trying to keep as stock in appearance as possible), I plan to use the 261 cam in the 235 (as the Corvette did). Might even try to find a '54 261 carburetor (which the Corvette did not do).
Don't know if I would use an 848 head, though (I got one from eBay a few years ago, on a '54 Loadmaster engine). The 848 casting number is a dead give-away.
What do my students and NASCAR engine crews say? It ain't cheatin', unless they catch you.
Tim