Dave - Not sure if the 1955-59 GMC Shop Manual info is the same as your '54 302 (?), but I found the below diagram on the 4 ring setup that might offer more info on your question. The diagram and the details of piston ring fitting can be found on Page 387 of the 1955-59 GMC Shop Manual which covers models 100-500 and the 302 engine.
~ Dan 1951 Chevy 3 window 3100 Follow this story in the DITY Gallery "My Grandpa Carl's Truck and How it Became Mine" 1966 Chevelle (Wife's Hot Rod) | 2013 Chevy Silverado (Current daily driver) US Army MSG Retired (1977-1998) | Com Fac Maint Lead Tech Retired (1998-2021)