These clutches are notoriously difficult to bleed, as you are discovering. Keep the bleeder at the high point; i.e., like your old slave cylinder. You might have to loosen it and tilt the thing so the bleeder is really at the highest point. (Yeah, I know it's a pain!) Also, push the piston as far back as you can, as Jim suggested. Finally, bleed it the old fashioned way, with someone pushing the pedal and you operating the bleed screw; don't use a vacuum bleeder or anything cute like that.