It sounds like the seals are leaking Internally In your master cylinder It s time to replace it the only thing you should need to know is whether you have the cast Iron or plastic fluid resovoir if you have the plastic one you will have to transfer the resovoir over to the new one if they still sell them that way then bench bleed the M/c before installing then bleed your brake system again and all should be good

 

Local parts tores around here sell the mastrs with new reservoirs, so you might get one that way too. Brand new ones are only around $25, and even less if it doesn't have the plastic reservoir. The one for my '71 was under $20 new and it's the type with built in reservoir.
You don't have to pull the booster to change a master, and from the sound of it I wouldn't change the booster, as the master seems to have the cups leaking and will be fine once it's replaced and bled. Just unbolt the master from the booster, bench bleed the new master, and bolt it back on, then bleed the brakes.

 

You have to check the adjustment on the rear brakes before you bleed the system, not many people do this, you need to have a slight drag on the drums. The brakes will bleed better and you will have less pedal travel.

 

What the heck are you trying to say???? And what's the link to used cars in India??? For pete's sake???

 

Maxy is a spammer, not for very much longer though.

 

Super spammer? I though he was just a teenager with half a brain and a subscription to Car craft.

 

lol!!

 

He did made his existence here look somewhat convincing, didn't he. Not sneaky enough though!

 

I was taking it easy on him for the same reason Damon said, thought he was young and clueless, but seems he isn't what I thought.

 

what does it take to "bench Bleed" the master cylinder? thanks