drdoug,

That is the same NLGI 00 ating as Penrite Steering Gear (self levelling) Grease.

Since NLGI is a standardized rating, you can trust that any 00 (self levelling) grease would be satisfactory in 47-55 steering boxes.

I have never tried that Chevron Delco product.

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.