as @syncview mentioned, I find the best way to bleed the brakes is using the pedal and a bleed bottle above the caliper level but below the master cylinder level, with end of pipe dipped in liquid. This ensures air bubbles are removed.
When changing brake pipes, its best to change one at a time then let the pipe drain itself naturally while you top up the master cylinder and then tighten it to the caliper. This way there is miminal bleed to be done on each wheel.
The master cylinder you show is classic mercedes design but built for the Gwagen, Its easily rebuildable with new parts or buy a rebuilt/new unit. You can swap out a Lucas cylinder for an ATE or Girling item without issue as long as its a correct replacement part and the front and rear ports are the same (they all are the same btw, V and H - vorne and hinten) Usually the master cylinder fails when you have an old cylinder of a neglected brake system and press the pedal to the floor. This tears the seals as it goes into rusty areas of the cylinder.