If you haven't overlooked something else, I would also say the master is bad, which can happen when you push it full stroke and it tears a seal in the seldom used part of the bore on a used cylinder. Also, I have found the best way ever to bleed a whole dry brake system by yourself in less than 30 minutes is to use an air powered vacuum bleeder like the one OTC sells. It's a lifesaver I've successfully used many times now on a completely empty brake system, and makes the $100 I spent on it a bargain. Just pull the trigger and watch it flow, and don't worry about the bubbles being pulled in around the bleeder threads. It's all about filling the lines with fluid quickly. Don't need to bench bleed the master either. I've learned brake bleeding the hard way too many times before. You can also just stand up a bottle of brake fluid in the reservoir, and make it auto-refill as you go. Just recently did this bleeding the all new brake system on my 1950 1.5 ton, but just added a short piece of hose to the nozzle of the bottle to reach the reservoir under the floorboard. Bled the whole system with 1 quart by myself in no time. I also use the vac bleeder to occasionally empty, and refill master reservoirs to keep the fluid fresher instead of doing what I should, a 2 year flush on all of my vehicles. Brake fluid loves to suck up water, and ruin your brake system.