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Is there a special oil I should use in my 54 Chevy Belair original engine?

amy good brand of a modern 10W-30 oil

If the compression and vacuum readings are good and the engine is not burning oil just keep driving!

The 1954 235 tended to give exhaust smoke. Especially when backing off in high gear.
If it puffs blue smoke after strating the engine it is the valve stem seals.
If it consumes less than a quart of oil in 500 miles it is fine,some 54's did that when new.