Keep throwing out ideas. There are others (me) lurking out here hoping for an answer that will fit my situation on my '50 3100.
I have all new brake components including CPP front disks and master cylinder with booster. I just replumbed everything to get rid of the GM proportioning valve and plumbed in an adjustable valve and residual valves. Hasn't made a difference. I still have nothing on the front brakes. The rear drums which are 50 years old are working fine.
My only guess is I possibly cross-threaded the speed bleeders when I put them in, so now it lets air in around the bleeders. I reaching but that's all I can think of.