the sinking pedal is due to a hydralic leak. it can be external at a caliper or its connection, anywhere in a brake line that is crimped and broken or rusted... or it could be an inernal leak in the master cyl. it also could just be air in the system. better check for leaks visually then bleed it again and be sure to start with the wheel furthest from the mc. if the pedal doesnt firm up then it must be an internal.

bleeding is tricky. perhaps i need to go through the proceedure... please ignore if i am talking down to you.

it takes two people. pump pedal with all bleeders shut off till it gets firm. the open a bleeder while the pumper holds pedal, pushing it to the floor. with the pedal on the floor never having let it rise, shut the bleeder. pump pedal again til it is hard. repeat. do this at each wheel til all the softness is gone from the pedal. it may take more than one turn at each wheel. if the fluid in the mc res is black and gunky, suck it out before adding new, then bleed it througn each wheel til it flows through the clear hose into a glass jar clean.

good luck

__________________
[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.