You have to unbolt the u-joint bell from the transmission, slide it back, split the u-joint and remove the half that slips on the driveshaft. Then position the driveshaft below the transmission (I don't recall if a '54 has a rear transmission support crossmember like my '51 does, but if so, that will have to be removed first) and then unbolt the differential housing from the banjo (axle housing), and pull the whole thing FORWARD and out. I'd recommend some ratchet straps positioned under the differential housing and the torque tube to catch it as it comes out. It's heavy.
