I finally figured it out by adding up all the symptoms. The main symptom was that after driving the truck the pedal required a pump to gain pedal. The key here was that it required driving to lose pedal.
I took the truck for a drive and pulled in the shop and purposely didnt activate the fluid service brakes. I stopped the truck using the parking brake.
I climbed under the truck with light in hand to watch the front calipers as my dad pumped the pedal. I noticed a gap between the pad and the caliper before he started pumping. Once he pushed the brake pedal down to the floor the caliper scooted over to take up the gap between the rotor and the outside pad. The second pump had just a bit more scoot of the caliper and the third revealed a full pedal an the caliper stayed put.
The problem was lack of silicone lubricant on the bolts that travel through the rubber bushings to retain the floating calipers. The rubber bushing was rolling up when the caliper was activated rather than allowing the bolt to slide through it.
A good slathering of the lubricant on the bolts and reintallation revealed a totally full pedal that stays at the top regardless of how far the truck has been driven.
It has by far the best brakes of any old one ton I have ever driven. It will really stand on its nose and stop on a dime.
Just wanted to relay the actual fix for all the guys that offered help.
No one nailed it on the head but I still appreciate the help all the same.
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Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
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