Sounds like you have a nice ride... Please Post some pics. I'm partial to 54's. I have a '54 48D which is a 2dr Post Special.
YOU can replace the worn out old springs with stock new original ones while cutting one coil off. This will make it lower and an added advantage (or disadvantage) of this is that it will increase the ride stiffness when compared to a stock length new spring.
I would not waste time with the springs that were heated to relax them. To me this is a time bomb waiting to fail. You dont know what the previous owner did to the metal in the springs. You have knee action shocks in the back that have probally seen better days. Some $$$$ to have rebuilt but they proballly need it. Air shocks can be used but it would require some fabrication and welding onto your rear axle housing. Not the simplest or easiest way in my opinion. Maybe someone has some experience with some airbags to fit inside your rear springs. Most seem pricey to me by the time you add up all hardware valves etc..
-Steve
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