Yes. The 3 54 stamped on the left side of the grip frame near the bottom, just above the toe, would indicated work by the Service Department in March, 1954. From what you posted earlier, it is a good bet the SD gave it a new barrel at that time. The front sight you described could easily be on a 1954 barrel. Also, in 1954, I would expect the SD to have put the frame's serial number on the barrel flat. Is it there?
The stocks clearly were not installed in 1954, for the reason you already stated.
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Jack
SWCA #2475, SWHF #318
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