yes it would. ok ill give you a tip with the bleeding that works 100% of the time and you wont have to put in a new master cylinder. take the master cylinder and the brake fluid reservoir off the bike. then hold the fluid cup and master cylinder up by the reservoir and secure it to something. then take the cap off the reservoir and then open your bleeder valve a quarter turn and make sure your reservoir is filled to the top. what this does is it uses gravity and the fluid to push the air out of the system. the key to this is making sure your reservoir doesnt get too low. after about 15 minutes of letting it sit without any type of bleeder on the valve (just let it drip), put your bleeder on and start to slowly and evenly pump the master cylinder with your hand and it should push the fluid/air out. i have a **** load of experience with the chinese **** cause we had one. and then you should be good just make sure you keep that reservoir topped off. as far as the front master cylinder goes, are you going to be putting hydro's up front??? if the front brakes work i would leave it alone. he will grow into it and out of it real fast so i would spend too much time on it.
