I've been running Michelin radial tubes in LT21585-16 Michelin-manufactured tires for 20+ years, 40K miles, no problem other than the odd flat. These were recommended by the Michelin tire dealer that installed the tires on the stock 1952 rims. You do have to use tubes that are intended for use with radial tires, and these are getting hard to find (like special order) and are very expensive (like 60 bucks each). Regular tubes in radials are a no-no.

Tim : where did you find 16" by 6.5" 1954 rims?