What is the order of parts assembly for the thermostat on a Chevy 454. Thermostat first into the hole with spring up and the round rubber gasket on top of that with the neck on next?

The spring end of the thermostat goes into the engine. If you have the rubber ring gasket, the rubber ring has a slice on the inside of the gasket. Fit the rubber gasket around the outside of the thermostat before you set the thermostat in place. Be sure the thermostat and gasket are in place with the spring end facing the engine and install the thermostat housing, done.