No, it would just make it hard to press if you move the pedal quickly.
You may have checked this but I can't see it - is the free play on the pedal set correctly?
I am beginning to wonder whether both the master and slave cylinders are the right ones - it seems very unlikely that they could be incorrect, as they are pretty specific to the vehicle. If the Master is set correctly, it should displace the amount of fluid needed to move the slave through the specified distance. If it does not, there must be lost motion or 'lost' fluid somewhere.
Given everything you have checked, the only way I can see for 'lost' fluid is a faulty master cylinder, either a manufacturing defect or a valve seal that is allowing a bit of fluid past it before sealing. Any free play could be in the pivot of the pedal or the trunion that the pushrod goes through, but this is likely to be part of the set free play.
Another long shot occurs to me - The master cylinder is similar but not quite identical to the brake master cylinder for an 88. They appear to be identical, except that the brake cylinder has a 3mm longer stroke. I can't work out exactly what that would mean if you have the wrong one.
John
JDNSW
1986 110 County 3.9 diesel
1970 2a 109 2.25 petrol
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