I experienced the identical clutch pedal problem on my '55 Vic that dmsfrr noted.
Miker suggested checking the z-bar bushings, so I took a few minutes to lift my '55 Vic and peeked at the bushings. They are intact. However, I noticed the adjusting nuts on the clutch release rod 7521 were finger loose and there was 5/16" clear space before engaging the clutch. After doing the nut adjust/tighten I now have the proper clutch and pedal operation. My clutch pedal now retracts fully without hanging up part way like it did before.
Thanks, Ford Barn