Welcome to the forum. My SP1 did that to when I first got the bike and I was not yet familiar with it. Turned out my master and especially the slave cylinder were gummed up with way contaminated fluid. It looked like peanut butter in the slave. So just bleeding the system wont get rid of all that, since the bleeder is on the top, and the sludge will rest down at the bottom. You have to take them apart and clean them out. The master and slave cylinders, that is. Get a copy of the downloadable Service Manual, if you don't already have it, and refer to section 9. Closely inspect the cups and seals while you're in there, I think a rebuild kit only cost around $35.
Good luck, and here's hoping you really enjoy the beast!