If your 54 was at our shop we'd guarantee no paint damage if the front clip was pulled but absolutely no guarantee if left in place. It is silly NOT to pull it to where it is completely away from any dropped tools, belt buckles, 600# engine swinging around, dangling chains, etc. I've seen dozens of trucks with the core support top cut out to clear a pulled engine. To pull with everything in place you first must have lift chain centered to move engine forward off the transmission and then re-position it to lift engine out almost vertically---all the while threatening a paint job. With the clip off just lift a couple inches till rear mounts clear and get out of the way, it's coming out. We can EASILY pull a front clip in 30 minutes and when loose have a helper and yourself take hold of it with one hand under the head light ring and the other in the center of the wheel opening as this gives perfect balance. Move just a little forward to clear cowl paint and then raise WAY up for inner fender to clear everything. The fender curves in under the cowl so watch this. For sheet metal and hood alignment we have no problem but some drill an 1/8" hole in each panel and then align with an 1/8" pin when re-installing so everything is in the exact position as before. A dab of dum dum seals these holes. Have a 52 and 57 Chevy pickup (V8's), a 40 Packard (engine overhaul), and a 37 Buick (a/c components) sitting without clips right now so no paint damage is going to happen to any of them.
