Kyle S,
"I’ll be pulling the motor and doing a full rebuild on it."
Regarding:
"Along the way I’ll add some things like' :
- pcv system - nice, but not needed, unless you will do a lot of short trips
- full-flow oil filter - read Jerry's post/advice again, if necessary.
- Carter yf carb - OK - get one for/from a 235 (I have been lucky using good Rochesters for decades)
- hei ignition - cool, but not needed
- new wiring harness - YES
among other things."
Good luck with your 1954 engine. I have had three 1954 235s and they all ran/run very nicely, with good oil pressure (after rebuilds, if necessary). All have/had a well-maintained by-pass oil filtration system. I use multi-grade detergent oil, and the by-pass system works very well.
Everyone has opinions - mine are based on a time-tested principals that works well with these stovebolt engines:
- keep it simple
- keep up with maintenance
- enjoy the rides
Good luck.
Do want you want - it is your truck/engine.
Let us know when you make progress, and when you have questions.