Kyle,

Good work - Good progress.

Did you figure out the air filter?
It is not a standard/optional filter for a small 1954 truck.
It has the spark arrester (oil-wetted) element.
Is there oil in the big base?

If you do not have a Shop Manual, it is on-line, as is an Operators Manual:
http://chevy.oldcarmanualproject.com/shop/1954truck/index.html
http://chevy.oldcarmanualproject.com/chevyowner/54tomindex.htm

It looks like you have converted to a 12v electrical system?

Tim
1954Advance-Design.com
1954 3106 Carryall Suburban
1954 3104 5-window pickup w/Hydra-Matic
The 216 and early 235 engines are not "splash oilers" -- this is a splash oiler.