Are you aware there are two bleeder valves for each front caliper? The
Bentley manual says just to bleed one of them (the upper of the two, I
think). The other is for draining. Before I was aware of this I was only
bleeding the lower one and had the same problem. Then I discovered the
other valve and bled both which made things alot better (so I guess it
doesn't hurt to do both).

Tom Brobst