I guess it depends on whether your priority is originality or safety/reliability. If the former, then the 1953 layout is probably the most accurate representation of what MMC were doing in 1954
But if you want to actually use the car rather than enter it into the kind of concours competitions where these would be marked down, I would urge you to consider a wiring layout that affords a little more protection in the form of fuses (AIUI the early cars only had one or perhaps two main fuses) and a pair of relays for the lights so you can run decent headlights without frying the switchgear.
I'm sure you could arrange it so that such items were discreetly mounted to avoid the attentions of the originality Police
