If you have a real set of Versailles spindles - then they will have the lower tapers sized for the "large" pin size. If someone shows up with some sized for the small pins - they didn't come from a Lincoln. The '54 Merc you described will have have had large pin lower ball joints.These Ford ball joint taper pins are machined with a 1-1/2 inches per foot taper (near 7°) - both sizes. If you have an upright (spindle) sized for the small pins, it can be machined to fit the larger pins using a tapered reamer. "Do it yourselfers" can get them from Speedway Motors - or at their local machine tool supply.
The distance from the lower pin seat to the spindle centerline differs from the early upright - it is raised about an inch on these later models. This serves to lower the ride height of the vehicle and also lowers the upper ball joint position relative to the wheel rim. It also made more room for large diameter rotors.
Uprights from some of the sixties big cars and wagons are a direct swap - with disc brakes. These units are usually heavier and the rotors more expensive to replace - but they result in standard ride heights.