The 54 Olds uses the same front motor mount, but I believe it doesn't use a slant pan Hydra-Matic, Therefore the transmission would likely not fit into the frame. If it did, the Pontiac transmission linkage would most likely not connect properly.
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My Pontiac is a '57 GMC with its original 347" Pontiac V8 and dual-range Hydra-Matic.
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