If there is still air in the system,the pedal should pump up higher after several strokes...after you let off the pedal,if it goes close to the floor next time you apply the brakes and it remains low,unless you pump it several times ,chances are the rear shoes are not adjusted close enough to the drums...
After adjusting the rear shoes,try bleeding it again..the pedal should remain high after the first application,not gain height after several pumps,if its bled completely..
I had a rear rubber brake hose plug up solid on my van,it drove me nuts for 3 days,I had replaced the rear steel lines and even tried a rebuilt master cylinder,and could not get ANY pedal unless I pumped it like 15 times--then it would go right to the floor after I released pressure and went to pump the pedal again...found out the plugged hose was not letting ANY fluid pass to the rear wheel cylinders,so I couldn't bleed the new steel line running from the front of the van to the rear hose...once I put a good hose on it,I bled it in 5 minutes...
A quick way to test if the master cylinder is leaking internally is to plug off the two ports with suitable fittings--the pedal will be rock hard and not "leak down" with light pressure if the seals are still OK--I did this to make sure my "new" master was working OK,and it was...and I bet the original was too!--and I replaced it for nothing..

..but it was 1981 vintage with almost 190K on it,and only costed 20 bucks,so it was worth replacing anyway..