OK. I had read instructions. Did every thing right. Still drools but my neighbor who tracks an M3 and uses a home built pressure bleeder came down. Mine is OK. His drools too.
Maybe it is effective, and doesn't require a "pumper", but it is not nearly as satisfying as a "pumped' bleed.
Real caliper bleed is when you replace pads with shims (could be old worn out pads) and exercise the calipers by braking pressure, followed by manual compression of the piston with the bleed screw open, as in installing new pads. Do this a couple of times and the entire caliper bore will be clean with fresh fluid.
At a minimum, do this when changing pads. Never force piston back into the caliper w/o first opening tthe bleed screw. This avoids pushing crud back into the master.