Rec. 28Jan52, Cincinnati. Clyde McPhatter lead vcl. both sides. I have to say here that the version of Deep Blue Sea that still knocks me out today is the Hank Ballard version from 1961. My mate Chas had it on UK Parlophone and we played it to death – the Ballard version is a driving rocker with gospel influences.
As Have Mercy Baby was not only marked as the "AA" side on the 45 issue but was also a #1 R&B hit (Best Selling Retail and Most Played Juke Box), it can confidently be declared the A-side. I made your upgraded scan of it the main image.
Added label variation of the "Have Mercy Baby" side, and added label scan for the "Deep Sea Blues" side. Going by the matrix numbers, the "Deep Sea Blues" side would seem to be the intended "A" side, but if you notice the 45rpm in the YouTube video, there is a "AA" after the record number on the "Have Mercy Baby" side and that usually designates the "A" side for the early Federal labels, so I don't know.
A mention of this release in the BB April 19, 1952 issue, and a review of both tracks in the April 26th edition.