We have a running '54, I think the one we're working on is a '57? engine (block #F0926A). Each part (carb, coil, etc) has been systematically moved from the '57 to the '54 and the '54 still ran. New plugs where purchased for the '54 and it's plugs, which were recently new, were moved to the '57. Compression check showed the pressure was low in 4 cylinders. Replacing the head gasket showed the water ports in the head were plugged with rust. We had gotten good compression last year before we started it up and it sounded great then. Now the compression is 130 or better in all cylinders except #3 which is 105 (actually varies 60-110, but 105 most consistant) It still refuses to start. We put a regulator on the fuel line and set at 3.5. Carbs not leaking anymore. Now thinking maybe cam shaft timing, maybe lost a woodruff, who knows.