On a 1988+, you do NOT need to bleed the master when replacing the slave, unless the master has been run dry. The hydraulic line quick disconnect has a check valve in it, and the reservoir will not empty when disconnected.
The first time I saw the quick disconnect system, I was quite optimistic. Since then, I've done roughly 20 jobs that required transmission removal, and I have never, not once, seen a situation where bleeding the master was unnecessary. Just my experience.
I'll post my method for master cylinder bleeding anyways:
First off, check for leaks at the slave, and at the junction where the slave clips into the hydraulic line.
1. Put the master in the truck after being bench bled. Hook up all the lines, but don't bolt it to the firewall or hook up the pedal
2. Make sure the reservoir is full, and tilt the master so that the part of it that is closest to the front of the truck is as high in the air as you can get it. The rear portion that you can see from in the cab should be down as far as possible.
3. Clamp a set of vice grips onto the rod, and have a second person firmly hold the master sturdy and at the desired angle from the engine compartment.
4. Get a third person to crawl under the truck and get him/her to follow proper bleed procedure while you manually pump the master cylinder. This should be just like bleeding the brakes. The second person, who is under the hood, should monitor the fluid level.
Using this method, it doesn't take more than a minute or two to see results. Get the third person to close the bleed valve, and then try to press the rod into the master cylinder. You'll be able to tell when its properly bled.