So I would like to add a couple of things.
1) The one man bleader, where you pull the fluid at the calaper, is a great way to do breaks. I've done it with my 1970 for years with zero issues. The only thing you have to pay attention too is that it will such the master cylinder dry in a short amount of time. Make sure you keep the master cylinder full.
Next, make sure that you are opening the bleader enough. . .and keep pumping on the one man bleader gun. . .you MUST keep the presure up. . .so that air does not get sucked back into the calaper. So pump up the vacume, open the bleader. . .pump like crazy, then close the bleader. . .then stop pumping if you need a break.
One thing to keep in mind with the one man bleeder, is that you will ALWAYS see bubbles in the vacume line to the gun. The reason for this is that the vacume is so strong, it will pull air from the threads of the bleader valve, or from the end of the hose if you don't have a good connection. The trick is to keep sucking untill you have a reasonable amount of break fluid in the one man bleaded cup. See the bleader instructions for how much fluid you should pull before you assume it's done right. Mine was an inch of fluid.
2) Yes, you must do all for wheels with the proper sequence, as described above. Be extra carefull with the rears, because you are bleading two valves. . .you can suck the master cylinder dry before you know it. keep it topped off. . .otherwise you have to start over again.
3) Now, I know that you mentioned that your calapers are leaking. Replace or rebuild them all. . .and use the stainless parts. You do NOT want to skimp on your breaks. . .your life depends on it. BTW: the stock breaks are fine. . .just get ones with the updated parts.
4) Lastly, you mentioned early on that this car was sitting with out a break pedal in it for years. So I have to ask, when you put the new break pedal in the car, did you correctly attach and adjust the rod that connects the pedal to the master cylinder? That is critcal. If the rod isn't of the right lengh. . .you will not actually be pushing the breaks. . .just air. . .and the pedal will go to the floor.
5) If all that checks out. . .then it's the master cylinder. Make sure it's not leaking inside the car.