Do the 1955-2nd series diagrams and instructions pertain to your year? If not, are you using a 1956 Shop Manual, or do you have the 1956 Supplement Manual? If you are you using a "Supplement" Manual, you also need the earlier year's Manual.
The locations of the various parts should be shown and described in the Shop Manual. The placement of bearings and shims, and the measurement for the shim are described in the Shop Manual.
The domed middle of he dust caps should be outward.
Chassis lubrication is used to lubricate king pins and any part of the assembly.
Your questions are very clear and carefully written. If you have read the Shop Manuals, some of the answers are in there.
I understand you quandary regarding which side is up for the bearing. Since the bearing is under the knuckle and the weight of the vehicle is resting on the top of the bearing, I think I have put the larger surface of the bearing upwards.
If you have the appropriate manuals, do not be put off by my post. Keep asking questions. This repair procedure is straight forward if you have done it before. For a first-time job, this procedure can be confusing.
