Another thought.....
OP didn't say if he fitted a new master cylinder.
If he is using the original master cylinder, it's possible that the seals have failed.
Master cylinder piston(s), in normal use, only travel part of the way down their bore(s). If corrosion occurs (not unusual in older cylinders, especially if the brake fluid hasn't been renewed approx. every 2 years), it occurs in the unswept i.e. unused portion of the cylinder.
If brakes are bled using the traditional manual method, the piston(s) now travel the full length of the cylinder bores and the seals become damaged by being pushed over this corroded area.
The result can be brakes that can never be bled fully and/or a brake pedal which creeps downwards under sustained pressure. Try holding the pedal down hard, if it gradually sinks to the floor, the seal(s) have failed.
The only cure is to either renew the master cylinder, or if a replacement is unavailable, to recondition the cylinder by sleeving the bore (some brake specialists offer this service) and fitting new seals.
If the corrosion is not too bad, you might just get away with polishing the bore and fitting new seals.
There is a tool available for honing/polishing the bore, it looks like a smaller
version of an engine cylinder bore honing tool - i.e. a tool driven by an electric drill with 2 or 3 spring loaded arms each carrying honing stones.
(Some achieve similar results using some fine abrasive paper wrapped over a length of wooden dowel or similar).
AL.