During my search for the will of William Phillips I contacted a research member of the NEHGS. The following is what he sent me:
            "The original wills are not preserved - what we have are the colony's transcribed copies of the probate files. The colony's records were originally kept in many volumes in no particular order. In 1818 those volumes were rebound, and we now have four rebound volumes of probate records kept by the Plymouth Colony's governors and secretaries. Copies from those volumes may be requested in writing from the Plymouth County Commissioner's Office, 11 South Russell Street, Plymouth, MA 02360. The current cost is $.50 a sheet". 

            The following is the transcribed record of the will of William Phillips.
       (I have typed it exactly as it was written and the spelling errors are not mine)

        Wills and Inventories Volume 2

The Last Will and Testament of William Phillips of Taunton Deceased; Exhibited before the Court holden att Plymouth the sixt Day of March 1654 on the oath of James Walker;
        Aprill the 16th Anno Dom: 1654
In The Name of God Amen I William Phillips of Taunton of the age of threescore and ten att the least being visited by the hand of God with sicknes and great weaknes neare unto Death not being likely to continew in this world; yet being through the mercye of God of pfect understanding and memory and willing according as I ame pswaded it is my Dewty to sett my house in order before I goe home I doe therfore as I came from the Dust comitt my body to the Dust untill the Day of Judgment and my spirit into the hands of God beleiving in him that when my body shall againe arise he will according to his gracious prmise make mee ptaker of spirituall and heavenly glory with Jesus Christ And for my outward estate which god hath given I Doe in this my last will give and bequeath as followeth viz: Imprimis my house that I now Dwell in with my out housing and all my lands that I have of Right appertaining and belonging to mee in Taunton with my Right and Interest that I have in the Iron worke newly Erected and built att Taunton with all my household stuffe of one kind and another I give it all Joyntly and equally unto my wife Elizabeth Phillips and my sonne James Phillips To enjoy it all equally together whiles the Lord continew theire lives together; but if the Lord be pleased to take away my wife by Death; then my son James Phillips shall possesse and Injoy all the things formencioned as belonging and appertaining to him and his for ever but if the Lord bee pleased to take my son James away by Death without Issue then my will is that after the Decease of my wife then the estate of mine as the Lord continueth it shalbee and appertaine unto the children of James Walker my soninlaw to bee Devided amongst them equally I give and bequeath unto my Daughter in law Elizabeth Walker an heifer of the age of two yeares old and to her little Daughter hester Walker an heifer of a year old to bee theires after my decease The rest of my stuffe which I also Injoy and the Lord
have given mee I leave them as the Rest of my goods with my wife and my sonne and soe Comitt and Comand them and it and all to the blessing of the Lord And also I confirme this to bee my last will and Testament and Doe heerby appoint my sonne James Phillips to be my Exequitor and pay all Debts of mine every where and pforme the legacies heerin contained and these I Rest heerin signing this my owne signe upon the sixteenth Day of Aprill in the yeare of our lord 1654;
Witnessed by                        The signe    of
Olofer Purchise                      William         Phillips
James Walker

            Wills and Inventories Volume 2

The inventory of the goods and Chattels of William Phillips lately of Taunton Deceased has Taken and aprised by William hailstone and William Otway the first of March Anno Dom: 1654 and exhibited herfore the Court holden att Plymouth the sixth of march 1654 on the oath of James Phillips and is as followeth

L s d
Impri: his wearing apparrell 03 00 00
It his books 01 00 00
It his beding of all sorts and linnen 07 00 00
It his brasse pewter and other such vessels 04 00 00
It his Iron & tooles of Iron and of other kind 02 00 00
It all his ?e cond? vessels 01 00 00
It his Armor of all kinds 03 10 00
It a winnoing Chest and a faire sacke 01 00 00
It ten bushels of Indian Corne 01 10 00
It his interest in the Iron worke 25 00 00
It in cattle viz 2 steers one Cow an heifer
and one Calfe
18 00 00
It 2 swine 02 00 00
It debts owing 02 00 00
It more given by him and Delivered by the Exequitor to James Walker
2 heifers and one gunne
06 00 00
                    Sum Totall 78 08 00
Witnes heerto
our hands            William hailstone
                             William Otway