Well, there seems to be enough owners with clutch adjustment issues that I will go over the entire set-up procedure from start to finish...
1) Ensure that the master rod from the pedal to the master cylinder is adjusted so the pedal is at least 7" from the floor and, when released, allows the master cylinder piston to fully return.
2) Uncap the reservoir and ensure the reservoir is full of fluid.
3) From under the car, place a 12-24" length of translucent hose onto the slave cylinder bleed valve. Have a cup handy to drain into.
4) Crack the slave bleed valve until fluid JUST starts to drain into the hose. If you open too far, then air will leak around the valve threads. 1/4 turn should be enough. You do NOT need to touch the clutch pedal. When all bubbles stop, gently close the bleed valve and remove the hose.
Note: If the fluid does not drain on its own, then the master cylinder has not been primed properly...another thread if needed...or, you didn't do step 1 correctly (most common)
5) Top off the reservoir and put the cap back on.
6) Remove the clutch return spring from the clutch lever under the car. Ensure the lever is in the middle hole on the clutch lever. You can use the other holes, but ONLY once you understand what you are doing by doing so. If you are learning from reading this, then you should not be using any other hole than the middle.
7) Loosen the lock nut on the clutch rod several turns and loosen the adjuster until you can easily move the clutch lever back and forth a bit. If you do not have enough travel to do this, then just shorten the rod as far as it goes.
8) Push the clutch lever to the rear until it hits a stop. Only use a pound or 2 of pressure, no more. Note this position...mark it if you need to on the side of the bellhousing.
9) Now, while holding the lever to the rear, unscrew the adjuster until it takes up all the slack to the clutch lever.
10) Grab the clutch lever and push it forward as hard as you can. This will compress the slave cylinder spring. While holding the lever forward, unscrew the adjuster until the lever moves back to the rear stop. If you let go, the slave cylinder spring will take up the play and the lever will move back to the stop. Keep unscrewing the rod, and pushing and releasing the clutch lever forward, until all the play is gone, and when you release the lever it does not move backwards.
Note: Doing step 10 takes a little practice. It is possible to lose track of the position of the clutch lever and actually adjust the rod so you are actuating the clutch. You are only taking up the spring pressure in the slave cylinder until the slave bottoms out...but you are not trying to move the clutch lever farther back than in step 8.
11) At this stage the clutch lever should be back where it was in step 8. The slave cylinder piston should be bottomed fully "in" or "forward". If you try to move the clutch lever forward it should not budge...not even a smidge! If you push the clutch lever rearward, it will only move rearward with a good bit of force.
12) Unscrew the adjuster 1 turn, and only 1 turn. Lock the nut at this position. Now the Clutch lever will move forward, but only a very tiny amount...1/16th of an inch to be precise.
13) Re-install the return spring between the slave cylinder and the clutch fork.
That's it. It took me 10 times longer to write this than it takes to do it. If you are still having trouble after following the above steps to the tee, then you have a bad master or slave cylinder. The system is that simple.