When mines was bubbling etc; it was doing it when the engine was warm not when it was cool, not to sure about if it would be the HG if your hearing a bubbling noise when cold though. I'm sure but im sure one of the more experienced members will tell you though.
If you want to check the turn the engine over and take the radiator cap off and if it boils/bubbles out of the coolant tank then most likely HG.
Craig
P.s Did you open both bleed nipples when bleeding the system ?
Theres 2 bleed nipples? ive got an MK 2 1.2 8v only assumed there was 1 bleed valve. illl have ago at testing the HG tommorow. Hopefully it aint my HG. Otherwise thats it for the 8v.