A few points worth taking away from this; cliff notes?
The ABS unit has fluid in it that might be as old as your truck. It's not too difficult to put together a test jig, or you could just force the ABS to modulate with hazardous driving (easier), but the contents of the ABS modulator should get flushed out (fluid, air), might be the cause of spongy brakes.
Just because you've replaced the master cylinder, with a rebuilt, it could be bad. And just because you replaced the replacement with a brand new one, it could be bad too. Where we screwed up was not fully closing off both ports. We now have plugs to fully block them off, and the new master cylinder pushes on through even with the ports closed, whereas the rebuilt doesn't. However, the rebuild unit appears to have had a folded sweeper on the front piston assembly, it had a crease on inspection, which may have been letting fluid by. It was fixed, or unfolded and is now the functioning master. Had we had plugs at the time, we would have discovered this, but at the time, we were feeding the outlet of the ports back into the reservoir, making sure there was no air, assuming the assembly was working fine, as it appeared.
EDIT The method we use while bleeding involves pulling a vacuum on the bleeder before it's opened, and kept it on until we were finished with that bleeder. We use a hand held aspirator (Snap-On, but similar to a mighty mac) and draw vacuum on a clear vessel which is connected to the bleeder valve. Vacuum above about 5"Hg. will draw atmosphere air through the threads of the bleeder valve. The air comes out the tube and not into the brake system, but the air in the tube flowing to the vessel could get drawn back when the pedal is released with the valve still open. Teflon tape on the threads of all the bleeders solves this.
After a while, brake fluid doesn't burn your hands.