Be careful using a 216 distributor in that 1954 235 engine.
Sometime in late 1954 the cam gear on the distributor changed to match the change from the earlier forged/steel camshaft to a cast camshaft. The 216 distributor would have a gear for use with the forged camshaft. If you have a later 1954 235 with the cast camshaft, you should use a later distributor (or, use the later distributor's gear on your 216 distributor).
Look at the gears on the two distributors.
Here is some GM documentation on the gears. Those illustrations are from
Pre'68 Dave's blog-site - they show distinguishing characteristics of the two types of gears.
What looked "really bad" on your 1954 distributor?
