Kevin, Pardon me for Monday morning quarterbacking, but in my experience in shooting .54's, and I have had several, I have never had one that shot worth a darn with your wimpy 40 - 50 grain charges.  With the exception of my first rifle, a T/C Renegade, they all seemed to like charges in the 80 - 90 grain range.  And I always used Ffg GOEX powder.
I really think you need to develop your load. 
Off a bench, start with 60 grains and shoot a three shot group at 25 yards.  Wipe the bore and increase the charge to 65 grains.  Then increase to 65 grains, etc.
With each group you should see the group size decrease.  When you notice your group starting to expand, you have found your ideal load.  If you want to, then you can work on other variable, like ball size, patch thickness, lubes, etc.
When you are satisfied with the load, then start working on adjusting your sights.
Pretty soon, you will be shooting the hat off of Captain Morgan's head.
John

You can sell it or turn it into a bench gun . That's what I'm thinking.
 I like the idea of long range plinking. 250,500,1000 yds ?
 North Idaho has a lot of space to reach out there.

 Although if I sold the TC I could get another kibler or a flint pistol .
 
I'm lucky enough to be able to shoot in my yard.  So no forgetting targets.

Be nice if a few more folks took up Capt Morgan's challenge.

 Good luck and keep shooting
Kevin

I'm still farting around with powder charges and the same with lubes.
 Just having fun.
 So each time I take a cold bore shot I have some new combo I'm shooting.
 Moving to 3f , gonna take a poke at it Sunday. Weather permitting.
 Probably 50 grains.  Maybe a spit patch or more than likely a damp patch with hoppes BP cleaner/lube. I like that stuff.

As for my TC, well I've been watching Idaho lewis videos on long range PRB shooting.
 Might put some new sights fore and aft on the TC and make her a match gun. ??

Kevin

Kevin, you're really sneaking up on that puppy ain't you. It's gonna happen, I can feel it in my bones.

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Dumped the TC and ran with the woodsrunner this time( well last 2 attempts)
 Elevations improving 
Kevin