https://www.caranddriver.com/features/a15114087/1954-chevrolet-corvette/
At 2800 pounds a 283 or 327 would wake that car up. There‘s no doubt in my mind if that ‘54 has the original drive train I would leave it original.
My friend‘s ‘59 had a 327 in it until he had the original 283 rebuilt last year and runs much better. For unknown reasons he battled constant cooling issues with the 327.
I‘ve always been a numbers matching car enthusiast when possible. But there‘s always the possibility a soccer mom in a minivan would whoop you off the line so it’s up to you lol.