I know this thread is over a year old but I just saw it and wanted to offer some personal experience.
I have the Old Britts 13mm re-sleeve on my 72 and 74 Commandos and they work very well. Much better feel, less effort, and better stopping. I can't quantify it with physics, I can only say that they stop MUCH better , and the workmanship, like everything Fred Eaton sells, is first class, including the powder coating and mechanical locking of the sleeve. I also spoke with the designer/manufacturer who does the work for Fred and his design is first class.
I took a different approach on my 73. I used the kit that Frank Cornwall at Clubman Racing sells that uses a new Grimeca 13mm master cylinder and an ingenious, nicely machined adaptor that lets you use the original Lucas switches and mirror. Most people can't tell the difference - only a Norton-o-phile who looked closely would know, and they all compliment its good looks and traditional appearance. And the performance is equal to, and in fact a bit better due to somewhat improved leverage in the design of the Grimeca. But it's not original, so that's the trade off.
On another note, I did have a related issue, but not with the master cylinder. I rebuilt the caliper with new o rings and stainless steel pistons, but the o rings were about .003" too wide (in cross section), for a total of .006" and it was enough to hold the pistons too tightly. As a result the pistons couldn't slide in the o ring and the elasticity of the o ring kept retracting the pistons into the caliper bore making it impossible to get a good, solid lever (too much fluid needed to make up the space between the piston/pad/rotor before good contact was made).
After numerous attempts to bleed, using every trick in the book, I made a tool out of bent wire that slipped into the inspection slot and confirmed the piston was retracting about 1/16" when I released the lever, so I rebuilt the caliper again and it bled and worked perfectly. I mention this as it was a vexing problem and it could save someone a day or two of frustration when they could have been riding!