I doubt that they converted that engine to full pressure oiling with a 235 crank back in 1954. Back then, reconditioned babbitted rods were readily available and were likely used. That's engine's likely still a spray oiler. If you pull the pan, you'll see the spray nozzles and dipper troughs installed in the bottom of the pan.

Kevin
1951 Chevy 3100 work truck
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1929 Ford pickup restored from the ground up. | 1929 Ford Special Coupe (First car)
Busting rust since the mid-60's
If you're smart enough to take it apart, you darn well better be smart enough to put it back together.