Probably a stupidly simple question, but should I be able to turn the clutch disc with the pressure plate torqued down?

Also, I bled the clutch hydraulics for about 2 hours today and I only get about 1/2" of fork travel. I did the "open bleeder, press pedal, close bleeder, release pedal" method. I unbolted the slave and pushed the rod in too. I have a brand new aluminum slave, but a used master. No leaks anywhere. Should I keep bleeding, or do I have a bad master cylinder? I'm half-way tempted to just buy the pre-bled LT1 setup from GM just so I don't have to deal with it anymore.