Just another thought on the bleeding process using the power bleeder ... Did you stop bleeding once you got a steady stream? On my 1-ton Hucks, I found that after the initial steady stream, I would get another few air bubbles after a few seconds of the steady stream. I mention this just in case you didn't know to keep bleeding for awhile after you hit the steady stream. And yes, you will go through a lot of brake fluid. But I have rock firm brakes as soon as my foot touches the pedal. Everytime. I took my truck out Sunday for the first time since last fall (for a real drive) and the brakes were right there.
Follow all the advice above for adjusting. But I wonder if you are not yet done bleeding ... ?