54, sorry for the delayed response, but just saw your post. The 54 would not have had a 292 in stock form, but a 239 Y-block. If the motor is a 54-56, its distributor is called a loadomatic, and requires the stock carb of that era. Those distributors can be hard to find. Unfortunately I just threw a newly rebuilt unit away due to no takers.
If your Y is a 57 or later, irregardless of the displacement, you should be able to get a rebuilt distributor at NAPA for about $65.00. Do yourself a favor and put in a pointless Pertronix Ignitor while you have it out.
When reinstalling distributor, make sure that the oil pump hex drive inserts into the bottom of the distributor, or there will be no oil pressure on startup.