Brake pad is out!!!!
I think that a few pints and a bit of thinking outside the box helped sort out the caliper. See photos below.
Apparently if you just put a wood screw into the stuck pad, put it in a bench vise, attach a big pair of vise grips and pull like you're trying to pull Dukie off your sister, it will eventually come free. Pretty gunky and rusty inside, but it cleaned up pretty well with a little bit of scrubbing. In the photos there is a white gasket/seal type of thing. Is this all that needs to be replaced and if not what else is there? I can't see anything else that would come apart.
As for the master cylinder, the circlip pliers aren't narrow enough to reach into the opening. Going to try stopping by the local shop to see if I can borrow a pair for a few minutes.
Hopefully the mailman has some goodies for me today.....
On the table for this weekend is carb rebuilld(if the parts make it here), gas tank cleanup, disassemble the petcock and filter to clear any junk, curse and swear at the master cylinder some more, go over the whole wiring assembly, and clear the brake lines.
Thanks for the tips guys! I definitely would have tried the grease gun idea but don't have one at the moment, but I make notes on everything anyone tells me and put it in the binder with my service manual for future reference.