Kevin, in general, the steps I take with a sticking throttle would be as follows:
1) Compare your linkage setup to the parts manual - do you have all the correct pieces? Especially verify that you have the correct return springs and that they are connected in the correct locations. I always stay away from aftermarket return springs -- get NOS ones or good used. Are all the little clips that the springs anchor to in place?
2) Disconnect the linkage from the carb, and make sure the various linkage on the carb itself works freely.
3) With the linkage still disconnected from the carb, see if the rest of the linkage works freely. If it doesn't, one by one disconnect each linkage piece to see if the binding frees up. Go all the way back to the pedal. Check all the joints for wear, signs of binding, etc. Repair/replace as required.
4) Is the linkage rubbing on something that it shouldn't be rubbing on - non-stock parts, engine not in correct location due to bad engine/trans insulators, etc?
5) Properly lube and replace all components.
6) Perform any linkage adjustments per the Shop Manual

I'm sure that Ross and others that have specific experience with '54s will chime in here. There may be common wear issues or even design issues that were later addressed with Service Letters. Unfortunately, I don't have much experience with Packards (yet!), but just tried to lay out how I would generally troubleshoot a sticking linkage issue.

Keep us informed on what you find!

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Sorta off the subject, but looking at your picture, I'm struck at how the Packard looks considerably smaller than the truck or the van on the other side of it! Maybe it's just the perspective of the picture?

Back up and running so quickly, thanks for all the hard work BigKev!!

Nice! I have a HF freestanding cabinet that I got about 15 years ago, it had to be assembled which was quite a job. But it allowed me to make sure all the seams were properly sealed. Have used the heck out of that blast cabinet, still works great. Had to replace the gloves early on, got a US made pair that have held up really well.

Next you need a powder coating setup. I haven't gotten one of those yet, but still would like to get one someday.

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Yes, I copied what the owner said the car was. I'm not the best on identifying postwar Packards, but of prewar Packards I know nothing.

NOT MINE! Saw this on Craigslist, mechanical parts for a 1937 Packard 120. Looks like this one is going to be 'street rodded' .
1937 Packard 120 Mechanical Parts

I have no connection or interest in this, but saw on one of my infrequent searches on Craigslist and want to share with the group.

NOT MINE! Saw on Craigslist, .040" oversize pistons for Packard 327. Pilot Engines is a long-time engine rebuilder in this area, a reputable company. I have no interest or connection, just wanted to share.

327 Packard Pistons

John, are you converting the front brakes to disc as well?

Nice radiator! Griffin Radiator in South Carolina, very reputable company.

Will be looking forward to a report of how the car cools with the new rad.

And I was just in Hickory yesterday! Doesn't matter tho, these cars are WAY above my pay scale!