Denny,
Regarding painted drive-train parts, Yes, that is what I have found (usually found no paint on the parts ).
However, I trust your research more than the conditions I have found over the years.
I think I am going to leave the front axle. transmission, and rear-end au naturel on my 54 Hydra-Matic. I'll keep the parts oiled, to lessen rusting.
I still have to decide on an engine paint. I think that Bob Adler has written that the shade of gray changed in 1954 trucks - from the darker blue-gray on low-pressure engines to the lighter gray (but, not as light as Ford engine gray). Decisions, decisions, . . .
The gray on the engine that you recently posted a link-to looks lighter than the Filling Station gray (blue-gray?) that I have seen posted in the past (it is hard to judge by html-rendered photos on different monitors/displays). I like it. Bob Adler has given a PPG code for 1954 truck engines - I think I might get the smallest can they sell at my local jobber and try it.
