Thanks RajB - I actually stumbled across this information in your original thread and it was helpful. I had another go at it last night (day 3) but this time with pressurizing the reservoir - that seems to be key.
After doing so a lot of air came out of the system, particularly at the pass/rear bleeder. It is better now; which is to say I have resistance/fairly firm pedal with the key off; but with the engine running it is still going pretty much to to floor. So while terrible, it is an improvement over day 2.
I am going to repeat the process again this evening hopefully, and maybe it will improve again after making another. It is interesting that I don't think I have seen any air from the fronts, it does seem as though it is the rears that are the issue.
What is the device on the floor? Seems awful robust for a mere catch can...?
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Aha, got it:
http://www.liquid-levers.com/shop/pr...79ee83f1f1f157
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Thanks!