Rear Suspension for a 54
#1
#2
In my opinion the best way is IRS it depends on you cash flow. I had springs & hangers from a Ranger on my 55 however, I currently have TCI's lowered leaf spring kit which I like. Check the tech articles for rear suspensions there are a few guys who have used T-Bird IRS & Jags. The TCI kit was really simple & easy that's why I went with it. There are also mono leafs that will fit the original brackets unless yours are trashed. Look below and check Rokcrln's "LFT's T-Bird IRS install lots of good pictures & Info.
#3
Lots of different applications. 3 link, four link, depends if your going to want to haul stuff, or get a cool ride heigth....personally I went with what I could afford, I raised the front hangers to the top of the frame rail gives about 1 3/4 drop, then bought some extended Y hangers which gives about 2 1/2 inch drop...good luck!!