I suspect my master cylinder is letting fluid pass by the seals: The calipers, pads, rotors, rear cylinders, drums, and shoes are all good, but the pedal goes to the floor to get the truck to stop. If there could be other causes I'm open to suggestions, but here's my question.

Is it worth the pain in the assembly to rebuild the master with a kit ($89 from Ford), or should I get a new master ($400 from Ford)? Cost is a factor, but saving $300 won't do me much good if I can't stop.
Either way, what retailers/websites do you recommend for parts?

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'93 XLT 3.0L 2WD, Auto, 77K mi. Works good, lasts a long time.

Try rockauto.com: http://www.rockauto.com/catalog/raframecatalog.php
They have masters from 20.79 w/$8 core charge to $265 for a motorcraft w/o a core charge or Oreilly's or Autozone where they run $30-60 depending on what you choose. There is a warranty usually with any of them. Better than rebuilding unless you want the experience.

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'20 Ranger Lariat FX4 Oxford White

Have you tried doing a complete system bleed? There could be air in the lines somewhere...

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92 Ranger XLT 2.3L I4 w/ 5 speed manual. Bone Stock, looking to mod when funds allow.

Haven't tried a complete bleed. Only the four brakes, individually. Does this sound like there might be air in the master?

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'93 XLT 3.0L 2WD, Auto, 77K mi. Works good, lasts a long time.

Thanks for the reply. No, I'm not doing it for the experience. I just want good brakes at an affordable price. I'll shop those sites.

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'93 XLT 3.0L 2WD, Auto, 77K mi. Works good, lasts a long time.

Yeah first thing I would do is a complete bleed anytime the pedal is going to the floor. Start at the wheel furthest from the master cylinder and end with the one closest. (rear passenger, rear driver, front passenger, front driver) Bleed them until the fluid runs clear and you have no air bubbles coming out then move on to the next wheel.

Heres some good instructions: http://www.fordf150.net/howto/bleedbrakes.php

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92 Ranger XLT 2.3L I4 w/ 5 speed manual. Bone Stock, looking to mod when funds allow.

try pumping the petal when off about 20 times (or enough to have a stiffer petal) and then turn the truck on while holding the petal down, if it drops to the floor, then its your master, if it mostly holds, then its air in the lines

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2004 Explorer Sport Trac XLT premium 4.0L auto 4wd
1995 Ranger XLT ext cab 3.0L auto 2wd
2005 Jeep Liberty Limited 3.7L auto 4wd
2001 Ranger XLT reg cab 2.3L auto 2wd--SOLD
1999 Ranger XLT reg cab 2.5L manual 2wd--SOLD

Wow! Nice one. I did that and the pedal went right to the floor, like stepping in stiff mud. Not that I'm happy about spending money, but at least I know what's broken. Thanks for everyone's replies.

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'93 XLT 3.0L 2WD, Auto, 77K mi. Works good, lasts a long time.

this is Jesse. I also would like to know if it is worth the time to rebuild my ford ranger master brake cyl