[Daves55Sedan]

You might be able to have the drums with the grooves turned down and re-use them, but the other two may need to be scrapped. I noticed a lug bolt missing or twisted off of rear wheel hub.
Its a good idea to drill a hole to terminate that frame crack before welding. I noticed at the top where that crack starts, the lip appears to have been bent down. Maybe heat and straighten using 1/4 inch thick plates above and below tightened down with heavy duty C-clamps, but you would need to work real fast while the metal was hot.
1958 was the first year Fomoco had "FORD" letters embossed onto the valve covers. Earlier years had plain valve covers with a decal.
Those fittings in the heads look like spark-plug anti-foulers. They are there to protect the plugs from getting fouled with oil. May be necessary to replace rings, reem the cylinder wall ridges and do a valve job. After that, those old top oilers will no longer ever be necessary as todays oil is much better refined than it was in the '50's. You have a standard single-action fuel pump with a fuel pressure guage going to a '57 or later 2-bbl carb. There should be no need for a pressure guage with this application and no need for a regulator either, as this type of carb doesn't ordinarily have float inundation problems. But what are you doing about windshield wipers? Electric? If they are vacuum operated, most people would recommend swapping the single-action pump for the dual-action type with vacuum booster for the windshield wipers. I think wiper motor is mounted on firewall under the dashboard.
If you have converted to 12-volt electrical system, the '58 engine is already set up to use the small, stubby temperature sending unit which will not work right with the '55 guage. Maybe see if you can find a '58/59 guage that will fit the '55 cluster? Fuel guage and sending unit; maybe put in a resistor ahead of the guage power circuit?