Well, I finally had a few minutes to spend on it. I didn't get to check the proportioning valve, or the master cylinder, however I did notice a couple of things.

First off, cracking the brake bleeder showed that there was no line pressure on it. So I assume that the master cyl isn't sticking open now?

When I put a c clamp on the caliper piston to compress it, there was alot of resistance. It was a major pain to get the piston to go back in the bore. This was more prevalent in the left caliper than the right.

I bought the calipers as remans in 04, and the car has sat alot since. So Is it possible that these things are corroded on the inside maybe? Or something else I'm missing?

The brake lines have less than 5000 miles on them, as does the 1 year old master cylinder. The proporting valve is the original and who knows what's going on inside it, i havent pulled it yet.

Thanks again for the help guys, I appreciate it!