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I would suspect either the m/c or the vac booster.
One thing you have to remember is that vacuum increases to large volume on deceleration, and will overcome a minor leak in the system until at a dead stop. Once at a dead stop, with the engine just idling, it will cause the pedal to fall. I had that happen to me on my 69 4x4, and all other brake parts were brand new with the exception of the vac booster. I replaced that and it ended the pedal fall. That was just after the front disc brake comversion on that truck.
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