WD, you've just answered one of the great questions of GMC-dom...we've been trying to figure out for ages if GMC Deluxe panels got the stainless trim. My '54 deluxe 1-ton had no holes for it.
Now for the $6500 question...did 1-ton panels have rear fender trim? I have scans of a pair of Chevy panel ads (1/2 and 1-ton) that seem to indicate that only 1/2-ton Deluxe panels had the rear fender trim.