Too stupid to bleed my own brakes?

[Buckaroo Banzai]

I need some advice. I began installing Speed Bleeders on my `81 300SD as I was changing my brake fluid (ugly dark tea color). I started on the right rear wheel, furtherest from the master cylinder. I quickly swapped the old bleeder with the new one and began pumping. At first I got ~ 1/2 pint of fluid, then the fluid stopped coming out. The reservoir was over half full, so it wasn't sucking air.

Lots and lots of pedal pumping only produced air at the bleeder valve. Stumped, I pulled the Speed valve out and put the old one back in and cracked it open a half turn. Copious pumping only produced some air in my catch bag. I then put a hand vacuum pump on the valve and pumped away- only air came out. I pulled the valve and put a bit of teflon tape in case the threads were allowing air in. Still no good. Started the car and tried again, same thing. Now I have zero brakes and the brake light on the dashboard is on. What have I done? Everything worked great until I tried to bleed my brakes, and I'm totally at a stand still.

Dave