I also have a 54 in .177 and have thought it as well. There is a guy in South Africa that sells .20 Walther Lothar barrel at about $100. I would love to hear the results if you do go ahead an do it, please email me at andrem@dynamic.co.za
My gun has the GRT Maccari kit in which makes for a smooth firing cycle but te trigger is not the best (TO5)