Okay butting in here. When I bleed the MC (see method I refered to) I raise the nose specifically to get the air in the MC to move to the outlet ports. Thus when I crack the lines and push the pedal the air will exit the system.

I wouldn't want to pressure bleed the system until the air in the MC is out because that would mean forcing that air through the whole system to the bleed screw. And since air "floats" it will be bubbling up the vertical lines (eg. MC to junction) against the flow provided by the pressure bleeder which may not be sufficient to push the bubbles down.

There is no need to de-pressurize after each caliper unless you have to top-up the reservoir which is probably a good idea before you move on to the next set of bleed screws (you don't want the reservoir to empty). So your method is fine if your pressure bleeder maintains fluid level (there are different kinds of pressure bleeders).
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1980 245 Canadian B21A with SU carb and M46 trans in Brampton, Ont.