I replaced every part of the clutch assembly in the '54 235 in my Suburban (and the pilot bushing), even though the old clutch disc, pressure plate, and throwout bearing had less than 5,000 miles on them. I took no chances. A friend is now using those parts with no problems. I have put that clutch assembly and pressure plate behind the '60 261 that is almost ready to fire up in my Suburban (the oil pressure in the old 235 was at zero at idle and at 5 psi when cruising).
My 235 flywheel did not look grooved but it was glazed and heat-checked. NAPA resurfaced the pressure plate for $40. The clutch assembly cost
about $150 (2005) at Advance Auto Parts. Did you mic your bearing journals on the crank or just replace the bearings? I am asking because this is what I might do with my 235 (which ran quiet and smooth and at 18 mpg). Did you remove/drop the crank to replace the rear seal?
