Anton.. here is a quote Matt Read gave me regarding Clutch Ajustment and other teething problems:
Quote:
Steve,,, If the slave cyl isn`t leaking fluid, leave it alone.
The play you`re mentioning, "should" be there!!!,,, that is std issue so don`t bother stuffing around with that lot either... the push rod you point at is just the push rod,,,you can`t tell how much play there is in the slave cyl piston because it is right inside the cyl,,,well,,,unless you have X-Ray vision mate.
most commonly the clutch arm is worn on the bottom of it,,, they wear (or even crack/break) on the ball on the end of the arm where it pivots inside the carrier & quite often the carrier wears in that spot too,,,the arm you have is a very early model "weak" sh!t one also, ,,best thing to do is to replace that arm with the new type "thick" one & check inside the carrier for a big divot on the pivot point also , replace it if need be,,,& another thing that will also help, is to rip the clutch cover off, take the carrier out, remove the throw out brg & fit a flat washer in behind it (unless Coatesy has allready done that, which i doubt) & then replace everything & fit it all back up,,,adjust it all properly again & you should have a wonderfull amount of clutch travel,,,
I would also check the amount of play in the pedal to master cyl push rod pivot clevis pin area,,,a little play here, creates a huge amount of travel loss at the other end of the system,,,as do the other clevis pins on the clutch arm.
if there is still more problems after all that, then more homework is needed in the hydraulic dept,,,maybe the master cyl is a small one (.7 brake master cyl; is to small to be used as a clutch which should be a .75 one)
&,,,what ever you do,,,Please fit the clutch "over throw nuts" to the end of the carrier & adjust them correctly,,,if you don`t, then you only have yourself to blame if you end up busting off your center main cap on the block,, you won`t want that to happen will you now???? they are there for a reason so fit them or maybe pay the very ugly consequences
so many people, including some so called mini mechanics/specialists, don`t fit them & even will tell you that they`re not even needed,,,well,,,,hee hee, those people that don`t fit them have absolutely no idea what they`re doing,,,never ever trust anyone who tells you different,,,,they are needed to help save major catastrophe.
Hope this may help
I don't have any idea how to fix it. Am getting a new adjustment arm kit and thrust bearing tomorrow and a new borg and beck clutch....... after that who knows 
) got rid of ALL slack, still crunched. The slave did not have enough travel, pedal down to the floor. Got a copper washer from the sump plug, gave it a very slight file on the inside, fitted perfectly under the thrust bearing made the world of difference. I REFUSE to bend the clutch throw lever to achieve the same effect. If you do you run the risk of fracturing the little spherical end that fits inside the thrust bearing carrier. Ive had that go on me in traffic, instant no clutch, was done by a professional too!
