Congrats on "bringing home baby." I think all agree that your ’54 Roadmaster is a car most worthy of preservation, but may be past the point of having what many would consider a patina.
Many years ago I learned an important lesson from Randy Mason, a good friend and former Technical Director at the Henry Ford Museum, about maintenance versus restoration. It follows the "original only once" theme, but made a lot of sense then, even more now, and has guided me ever since. If you have a decent car to begin with, why restore when maintenance may be all that's required to bring the car up to a level at which you're comfortable.
I've faced a similar, but less hand-wringing, dilemma with my own car, "the Roadmistress," pictured here. When found in 1989, she'd been laid up for many years in this covered shed.
The Dresden Blue had been repainted in lacquer years before, with some slight peeling and cracking; the Dover White was thin, but presentable. The rear bumper ends were shot (a common occurrence), but most of the chrome was okay, and good for a 20-20 car. The upholstery was very bad, with mis-matched seat covers that made for quite an embarrassing appearance, but the dash, headliner and door panels were fine.
Over the next decade (bought her in '92), I drove the car all over the Eastern U.S., to a couple of BCA Nationals, family reunions, and to Detroit for the Auto 100 Celebration & Parade in '96. Never once was I ashamed, knowing that, eventually, her condition would improve.
The easy things to do (tires, mechanicals, etc.) were done as $$$ permitted, and, in 2001, she was treated to new correct upholstery, carpet, and trunk liner, and the window reveals were painted. Also, the Sweepspear and wheels were repainted Tangerine, which made a marked improvement in her overall appeal.
The engine compartment has yet to be detailed as she's still a driver, and shown in the class that's yet to be mentioned here, the DPC (Driver Participation Class). Similar to HPOF in that the cars receive certification once, and can be shown thereafter in that class, they do not undergo the rigorous 400-point judging process. While they can't ever be HPOF, they can eventually be brought up to Class Judging, if the owner so chooses.
While under my stewardship the Roadmistress will never be repainted, as she has the fine patina of a car that has lived gracefully through these last 52 years. To compare her condition to your '54's isn't quite fair, the subject is brought up only to let you know you’re not alone, and that whatever conclusion you come to is just fine.
Can't wait to see the "baby pictures!"
TG