The Master cylinder should be just two bolts, no need to compress any rods.
Not sure if you have to bench flow the master.
I don't mind skipping it because I lose too much fluid installing the proportional valve.
If you never had bled a brake system it can be tricky the first time. There are several makers of catch bottles that you can use to help catch the brake fluid so you can see that your bleeding clean fluid without bubbles.
Second you need a second person to pump the brakes while you open the bleeder valve on the calipers and drums. I like to use slow steady pressure pumps while i am trying to clear the brake lines of air. then four pumps and hold while I open and close the bleeder nipple.