All of those loops in your brake lines make it tough to bleed without a pressure bleeder...
This. Even though you did a clean job of making up the tubing, I would seriously consider going back to just the minimum number of curves and bends needed, with no high-spots.
I put the loops in the lines between the proportioning valve and the frame lines to allow a little flex if needed.
Good thinking, but also over-thinking it. The flex does not happen there between one part of the frame and the other just a few inches apart. That's why the factory does not use looped hard lines, or flex lines in this area. Where you see the flex lines (factory EB) or looped/coiled hard lines (GM and many full-size Fords) is between the body and frame. In other words, between the master cylinder and the proportioning valve.
And speaking of the lines, is your rear line going to the prop valve and rear brakes? Or am I just seeing it wrong?
The "primary" reservoir/piston of the master cylinder (rearmost, closest to the pedal) always goes to the front brakes. At least on our Fords. The secondary (frontmost, or closest to the grille) always feeds to the back brakes.
I also adjusted my rear brakes till my shoes were just barely dragging and then bled the brakes again (with my vacuum). There still is a lot of pedal travel and I can push the pedal to the floor.
On almost every set of drums I've ever adjusted, I got the best results from a surprisingly high amount of drag. To determine if there is a problem or not I always adjust them up tight enough to hear scraping the entire 360 degrees of rotation. If there's a big difference in the high spots to the low, I might consider turning the shoes to match the drums.
If the difference is minimal the brakes can drag quite a bit and not overheat when driving. You should still be able to turn things by hand, but you're going to feel a fair amount of drag.
If the tire and wheel are mounted, you should be able to turn it with minimal effort, but it should not keep spinning for more than a quarter turn after you let it go. Mine usually stop almost instantly, or in less than 1/8 turn.
Any chance I need a larger bore master cylinder for the T-bird calipers?
Yes. Definitely. But like Apogee said already, I don't think it's causing your pedal to go to the floor either. You can feel the difference in pedal travel, but it sounds like you have more going on.
And you're going to find that with a 1 1/8" bore master, your pedal effort to get the truck to stop is going to be pretty high. That size is considered by most to be about the maximum bore diameter for manual brakes.
A 1" or even a 7/8" bore is better for good effort with manual brakes. But then you run up against the bigger caliper dilemma.
When you replaced your master recently, did you by chance verify the piston size before you installed it? Either by measuring or looking for some markings somewhere? I'd hate to see you fighting this just to find out the wrong one was in the box. But the fact that it was doing this before you changed is a good sign for once!
Good luck.
Paul