First, in the master cylinder cup, there are two holes, one of which is a fluid return hole. Both are very small. Take a bit of wire, or a needle, and poke out these holes to loosen any debris that might be blocking the return of fluid.
The replacement of old worn lines does help. Slingshot cycles is a great supplier, and he's a forum member.
If you do go the route of replacing the lines, You should also do a piston o-ring replacement, check/replace a pitted piston, and maybe even a MC rebuild kit.
Its all 30+ years old. Rubber parts dont age well.