The 1954 Chevrolet (and GMC) truck automatic transmission is a 4-speed Hydra-Matic, not at all like a 2-speed Powerglide (except that they are both automatic transmissions). You know this (as your name indicates) but others have offered Powerglide comments/advice.
By the way, it is
Hydra-Matic (as in your name), not a
Hydro-Matic (as posted by others, above).
If you want the transmission rebuilt by a professional who knows what he is doing,
Gener Berck at Restoration Hydra-Matics is as good as they get. His price is the same for Chevrolet and Cadillac and Bentley/Rolls-Royce Hydra-Matics. He guarantees his work.
Here is a Hydra-Matic repair shop on FL:
http://www.calvinstransmissions.com/transmission-repair/One modification that does not affect appearance but makes driving at highway speeds a little nicer is to change out the ring & pinion gears from 3.90 to 3.55 (
Patrick's Antique Cars & Trucks ). If you go that route, buy and use his installation parts kit.
Several members of Stovebolt.com have this transmission on a 54 1/2 Chevrolet truck.
No one knows how many trucks were sold with this option.
