I finally got around to working on the 54 I have started a blog page over at http://54merc.wordpress.com/ that I am using to follow the build of this car. Everything from the motor work to the set up of the car. If you guys get a chance go by and check it out I would love to hear some remarks and suggestions for the build.
My first car that actually run was a sun valley,bought in about 1962,green with a yellow top ,I have always loved them ,looks like a good start.best of luck.