There's been quite the discussion on this topic. What I can offer is that the entire bed, including the bed wood was the body color on my 1954 3604, which was ocean green. This was found after removing a sheet metal covering that had been "added" by a previous owner.
Yes, this is a very disputed topic. I believe that I read that Bob Adler felt that beginning in 54, the bed with wood was all painted body color prior to installation. The bolts holding the rear fenders I believe is also involved in the discussion.