You might want to consider getting a motive products power bleeder. They are not real expensive and I have had great luck using it. It also makes bleeding the brakes a one man job.
Are the brake drums new? How far are the brake pads retracting from the rotor after you press the brakes? That is the reason for using a residual valve, it keeps the pads close to rotor without dragging. The master cylinder doesn't have enough volume to fully push the pads against the rotor with one pump if they are to far away.
