Interesting. I have a couple of 53/54 Hercules bikes (badged as Churchill Deluxe) and they have the "expected" Hercumatic 3 speed rear hub and shifter (versus Sturmey Archer). I think I may have heard that the Hercumatic was just a licensed design of the Sturmey hub. Mine both came with Sturmey front dynohubs so this leads me to believe that Hercules was not "against" using Sturmey parts as again I think this was before any type of merger between Raleigh and Sturmey. It was well before the Raleigh purchase of Hercules.
My Hercules are 26" wheels with the rod brake profile rims. They were fitted with the 26 x 1 3/8 standard tires.
With the lack of original paint and missing chainguard and general condition I wouldn't think it would be worth a whole lot. With the mixture of parts on the bike and the extra wheels this is one bike that might make sense to part out. I don't generally give this advice to others or myself, but might be the right thing to do here. If so, wish you lived closer as I'd like to attend that swap meet. Best of luck, John