[fortyfords]

Mike, it sounds like you have a leak somewhere or a wheel cylinder has dry rubber cups and is just letting air in every time you release the brake pedal. I would disconnect the brake line from the master cylinder and block the port and see if you get a hard pedal when you bleed. If you do get a hard pedal, then hook up one brake line at a time until you find the one wheel that gives you the soft pedal. Yes, you will have to have some plugs to block off the lines at intersections and at backing plates.