You are right about the block casting code and date code being odd.

What diameter are the oil lines to the oil filter? Is there an oil filter. Can you post a photo of it?

Can you post a photo of the water pump side of the engine - you might have a 54/55 style water pump. This will make it easier to install the 261 in your 1949 truck.

The draft tube and valve cover indicate it has/had a PCV system.

Does it have a harmonic balancer?