Carter -- As the resident historian, you were right on the money as usual. After investigation, the best I can tell, is that the WA-P2 was in fact introduced as a new companion to the new (at that time) W-5M power amplifier, that Heath brought out in 1955. That would mean that Heath was (obviously) given permission to produce the basic circuit of the 50C, AFTER Fisher stopped production of that series.
Also of note, the WA-P2 represents the original version of the 50C, most notably identified as having only four positions to each of the Roll Off and Turn Over EQ switches, whereas Fisher of course always upgraded their unit with more EQ options as the ever changing EQ landscape developed at that time. The sole advantage Heath had by its later introduction was that it labeled positions on the EQ switchs as "RIAA", rather than "New Ortho" as Fisher originally did in their first units.
Finally, one other huge difference between the Fisher and Heath editions, is that while Heath obviously stole power from their power amps to power the WA-P2 and therefore save costs for their version (the thing only cost $19.95 when introduced!), the WA-P2 also operated the tube heaters from AC, using a hum balancing pot to minimize noise. Of course, the built in power supply Fisher provided in the 50C provides DC to operate the heaters from, which gave the authentic version a serious edge in quiet operation.
It is so true how details can make or break a given product. Here are two units containing the same basic audio circuitry, but due to appearances and a built in quality power supply, one product flourishes on its own with high regard, while the other basically has to sell almost entirely by using what in essence amounts to a "buy a power amp, and get a preamp for free" campaign -- but due to such non descript looks and noisy operation, merits basically only a footnote in audio history.
Still, for those so inclined, a proper external power supply would not be hard to build, and there's plenty of talent here on AK to gussy up its looks, so for little more than junkbox parts, you too could have a 50C! Well, sorta anyway.......
Dave