I had heaps of trouble with my '68's brakes. I'd bleed them, drive for a day or so, and the peddle got longer. I did the usual - braided lines, new master cylinder, new front calipers (they were replaced because of seal failure and fluid leakage). Back calipers 'seemed' ok. No leaks in system, but still the long pedal issue persisted. In the end I bit the bullet and bought new stainless piston-seal rear calipers and pressure bled the system again. To date (six months) my pedal is good. When I inspected the old rear calipers I found a hairline crack in the cast iron of one of them. This was on the inside of the caliper and couldn't be seen unless the caliper was damp, then dry. The moisture identified the crack, much like magnafluxing I'm guessing. While I'm not 100% certain, I think the crack was letting air into the system, but not letting fluid out. For what it's worth....