[SpeedracerIndy]

Thanks all for the advice. I will limit the spirited drives until I am confident I know what the problem is. I have replaced countless calipers, and bled brakes more times than I can count, and I am very confidant that the air is out of the system. I fully intend to bleed them again after they are working correctly. I intentionally bought cheap fluid from autozone for this round because I had planned on replacing it with some super blue when I'm done with the repairs. I really feel that the problem is that the pistons are retracting too far into the caliper. I took the wheels off again to check the dust boots, and noticed that there is about a 1/8" gap between the pads and the rotor, and the pads wiggle around freely in the caliper. Shouldn't they be resting practially on the rotor?

Perhaps I should change my description from squishy to "light". I wouldn't say that the pedal feels spongy like when there is air in the system, it just feels very light. There is much less effort required to stop the car than before the rebuild.