Unfortunately, ALLData has no information at all on the 1968 Bus, so I cannot do much more than guess, but I will take a shot. Does it have power brakes by chance? I do not recall the bus having that, but if it does, then I would think either a nasty vacuum leak around the brake booster, or the booster itself. Since the bus probably does not have a booster though, I would think the master cylinder is leaking internally. That is, the piston inside of there has a couple of rubber o-ring seals on it. They are allowing a little fluid to slide by them, causing the soft pedal issue. As you work the system a little, they get a little wet, and swell just a bit, causing them to seal just a little better, resulting in better pedal pressure.
Again, I am not terribly familiar with the bus, but according to my general experience with master cylinders, that is what I would look at.
Also, for some reason I just love your screen name. Cannot seem to figure out why though. ;)
Good luck and let us know.
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Friday, December 22nd, 2017 AT 7:48 PM