I have been running this engines cousin, the 2-10-4 on 054 with no issues. The 2-10-4 and the 2900 Class 4-8-4 appear to share the same boiler casting.
I believe that the first and fourth axles on the 2-10-4 are flanged (it's been a while since I looked)-that might give the 2-10-4 a slightly shorter wheel base in the curves.
By the way, the MTH U.P. 4-12-2 will also operate comfortably on 054.