I'll offer another option for bleeding - gravity and patience.
I finally got around to doing my 560SEL today by this method and it worked fine. I started by putting the rear end on stands and removing the wheels for easier access. Then I drained the resevour (sp?) with an old turkey baster and removed it for further cleaning and replacement of the grommets. Once the resevour was back in place and full, I put a clear hose on the right rear bleeder and cracked it open. I then set my watch for ten minutes and went about some other things on the car. After ten minutes the fluid was starting to run clear so I topped off the resevour again and let it go another ten minutes while continuing my other projects. After the second ten minutes it was clear so I closed it off and moved to the next wheel and repeated the process.
The whole thing worked well and was done in two hours. Mind you that during that two hours I also:
1. flushed the PS system and replaced the filter
2. cleaned the differential and suspension control valve
3. disconnected the suspension control lever for testing
4. watered my entire lawn (convienently using the same 10 minute intervals to move the sprinkler