Originally Posted by Gus

Not that this is your issue, but not sure what is as I have travelled down this road several times. One of the biggest reasons for a low release point ( clutch pedal to floor) is the failure to bleed the master / slave properly. You can attach a pressure bleeder, you can back flow fluid up through the master from the slave. You can have someone pump the clutch - but if you are not doing it right all will not build up pedal pressure in the master.
The master, because of design, requires a very slow bleed and refill method. This is especially true if you replace the slave and loose a lot of fluid.
To get fluid back into the master correctly you need to slow down the back stroke or up stroke of the clutch pedal. In many cases the clutch pedal may drop to the floor (when bleed) and have to be pulled back up by hand. DO THIS VERY SLOWLY - it is at this point that you are pulling fluid back into the master pump area. If you pull the pedal up fast you will not pull in anywhere near enough fluid. As a rule I have found that hand bleeding the Master with someone helping works best. It is very time consuming, 30-45 minutes for me is a norm. Each time the pedal is depressed/bleed I use a 10 count to pull the pedal back to top. Once the pedal starts to come back on its own, slow it down and assist it the last couple of inches.
Using this method you will find that you can get a better release point (higher) than you had, because you are allowing for greater fluid volume to be pushed by the master. But you have to get the fluid in the master first.