Hi John and welcome to the 'bolt!!
First, read the tech article linked above. The wheelbases
of the 2 vehicles are the same so the length of the drive-
train should be just right. The '54 rear end is very
close to the same width as your '46 too. Aside from the
5-lug axles, and mounting issues is the ol' powerglide
transmission itself. For a truck, I'd sell it and get
a SM420 4-speed or get Patricks adapter for a Saginaw
4-speed. The 'glide only has 2 speeds and is notoriously
sluggish, especially with any loads. I have a '54 'glide
motor in my truck with a 5-speed and love it.
Keep us posted on what you decide.
