[Mart]

I can see a few issues, none of which would stop the brakes from working, but they just aren't "right".
Both rear wheel cylinders are back to front (and need to be swapped side to side).
One rear brake assembly is a 42-48, all others are 39-41.
It would be nice if the front wheel that has the bolt on steering arm could be fitted with a grease shield.

As the 32 is not naturally a hydraulic equipped car, the master cylinder installation is more likely to be the problem area. All the wheel cylinders/drums/shoes etc are common to all hydraulic fords of the era and should be easy to troubleshoot. Basically for this exercise adjust them all up tight for the bleeding procedure.
So please show the master cylinder setup, the type of cylinder, the bracket, the mods to the pedal, the pushrod etc.
Has the 32 pedal been retained? Is it modified? Are relay levers involved.
Without seeing that end of the setup it is impossible to suggest what might be the problem.
I would suggest the car needs to be gone through by an expert on the subject at hand.
Mart.