Alright, SUCCESS. The bleeding took a little while, but I had no problems and everything went smoothly. I did get a little of the oil on my paint from when I opened the master cylinder before, but I was able to rub it out. I didn't notice that the clutch seemed to engage earlier (I went out for a short ride), but it was very smooth and I feel more confident.
Thanks again everyone for all your help. Next, I'll probably look into renewing and changing out more of the fluids in the bike.
If you'd like to see PICTURES of the process, check this link...
http://flickr.com/photos/kincer/sets/72157604937988637/
