Alan,
I have purchased 3 sets of lower windlace retainers for 1954 trucks, two polished stainless and one unpolished stainless that we painted.
1. The polished stainless sets that I have are polished almost to a chrome-lie appearance. I agree that your retainer does not look well polished.
2. The design of your retainers is correct for a '54. They sit above the floor with the high edge on the inside. The retainer on the left of your photo would be installed in the right door opening. It does not fill the entire door opening. The cut-out at the edges are there to allow the side windlace to come down to the floor and go under the side edge of the floor windlace retainer (the side windlace is actually supposed to go under the floor retainer and come out on the floor, a little inside of the inside edge of the floor retainer).
Check out the 47-55 Factory Assembly Manuual: SECTION 1; SHEET 3.10.
Tim
