[OrrieG]

54 was still 6 volt. 55 switched to 12 volt. If you "took bits of metal" out of the starter I'd start there. You will want to convert to 12V anyway so just go get a new starter, NAPA, etc. has them. If you want to try and start it get new 12v coil and distributor bits. Did you pull the plugs and squirt any thing down the cylinders to loosen them up, if not might be dragging dry rings on cylinder walls. I don't think 58 had pressure oiling system so my might be dragging the crank, cam, etc dry. I'd pull the valve cover and side plate and lube anything that looks like it moves, cam, lifters, rockers. Make sure the water pump is not seized.