Sounds like something ain't right. There were full pressure and low pressure engines in '54, which is yours?

Did you replace the pump or just the gasket? Did you try the pump with a drill and it didn't work?

If its full pressure, check your gauge and try a different one...

If you still don't have pressure drain the oil and check it out for chunks of metal and pieces of babbit. You might drop the pan and check a bearing or two, and replace the pump.

You should use the holes on the driverside of the block for the filter.

If the pressure is good and you aren't getting oil to the rockers sumtin' wrong.

'51 Chevy 1/2 ton w/'62 261, HEI, offy, fentons, dual carter/webbers, t-5 & 12 bolt posi