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No problem running 10% ethanol in the flat V8's, the gas in '53 was likely 10% water. It doesn't corrode your system, but it can absorb water that does. If you have crappy fuel lines and fuel pump, it will hasten their demise. They don't need premium either, '50's gas was very low octane. 6.8:1 compression needs nothing more. I had 20 gallons of 7-yr-old gas to get rid of, and my truck went thru it without a hiccup. I wouldn't try that with EFI!
There are two gas stations that still sell gas without ethanol. But they say they won't have it for long. I am told to put a gas additive in the tank. What kind of an additive?
As far as the oil I have started putting a zinc additive with every oil change.
About the lead additive, I have been told unless you are racing your vehicle every weekend or pulling heavy loads every week (work truck) you don't need it...
Welcome aboard Fred,You came to the right place.The guys and gals here know their stuff.I bought a lot of my parts from Mid-fifty and Carpenters and all the others mentioned. Shots of mine in my gallery. Have fun!