I will go with "Just a bad fuel pump."  When I bought my '55  Thunderbird, it had an electric fuel pump in line to prime the carburetor before trying to start the engine.  I removed the electric pump, and the carb would not prime with the engine driven pump.  I replaced the fuel pump, and now it primes very quickly just cranking over.  The fuel pump diaphram rubber was softened by ethanol in the fuel to the point it would not create a vacuum.  Joe-JDC  

JDC

Here's one designed to do exactly what Tedster describes.

https://www.amazon.com/Motion-Pro-08-0032-Auxiliary-Fuel/dp/B000WJ0RCA/ref=psdc_404763011_t4_B004NV42PQ





Lawrenceville, GA

Just thinking out loud here - but there is some concern here about excessive cranking on a newly rebuilt engine? In this instance troubleshooting fuel pumps.

Maybe a strategy would be to rig up an outboard fuel tank (boat tank) or some type of gravity feed to the carburetor and get the 20 minute break-in accomplished, camshaft lobes and lifters "run in" and working together. Then work on the fuel pump issue.

As John brings up, the fuel pump looks correct for the application.  Here are some scenarios to consider.
 

1. It’s possible for the fuel pump arm to be inserted to the front of the concentric rather than under it which will simply have the fuel pump not working.  This happens when not inserting the fuel pump into its spot by not going in at 90° relative to the fuel pump hole and instead the pump is being installed such that the lever is angling towards the front.   In this case, you can typically hear a grinding noise where the concentric is rubbing against the fuel pump arm assuming there is enough fuel in the carburetor to get the engine running.

 

2. If the spacers for the timing gear are installed incorrectly, that can have the concentric installed in a position that’s not properly aligned with the fuel pump lever.

 

3. Are you sure you have the fuel pump concentric in place?  I have been known to leave them off where I know nothing but an electric fuel pump is being used.

 

4. Just a bad fuel pump.  That can be tested by hand working the fuel pump lever with the pump off of the engine.

 

Lorena, Texas (South of Waco)

That is not a '54 pump in your picture.  It looks correct for a T-Bird because the glass bowl filter will not clear the Bird crossmember.

John - "The Hoosier Hurricane"

This car has given me lots of problems. It was sold to me purported as a non-original 292 engine. I found out later it was a 239 with lots of T-bird parts attached. I assume someone replaced the original with a 239 and used mostly parts from the original.

From your pictures I don’t think I have either. I don’t have the glass bowl filter.
Here are pictures of what I have.

 

 

I’m hoping maybe the pump is OK and somehow I installed it with the lever in the wrong position?

When You get the proper Pump it is installed with Arm under the Cam Eccentric-not on top.



  

As mentioned, the 1954 239 fuel pumps are not compatible with the 1955 and newer engines unless using the 1954 timing covers.  The 239 pump did install upside down but another identifier for those pumps is that they use a 5/16 bolt for attachment rather than a 3/8 bolt as is used on the ’55 and newer Y engines.  If someone has drilled the fuel pump attachment holes larger in the 239 pump to accommodate a 3/8” bolt and tried to put that pump on a later engine in the right side up position, I would think the arm would miss the fuel pump concentric altogether and therefore not work.
 
I’ll suggest another fuel pump if in doubt about the current pump.
 
Here are pictures of both the 239 fuel pump (top) and the later model fuel pump (lower).
 

 

Lorena, Texas (South of Waco)

I'm assuming you have the 292 timing cover for the Bird.  The '54 pump will not work on a 292 cover.  Get a 292 Bird pump.

John - "The Hoosier Hurricane"

no 54 fuel pump will work if its of a 55 239 it will