63 master cylinder question

What is the purpose of the zerk-type fitting on the top side of the cylinder?

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lib wrote:

I don't recall anyone using a zerk fitting but I remember a guy who had a Schraeder fitting on his master cylinder cap. Claimed it was for an easy, one-man brake bleed. Don't know what he used for a pump and I can't vouch for his success--never saw it in action.
PJ
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It is a bleed screw used on the PB master cylinder. It is not on the manual MC. Do you have a MC with a lid held by a thumbscrew or a metal clip? If a thumbscrew, it is '63. If a metal spring clip, it is '64.

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I have the thumbscrew cap. However, I don't have Power Brakes. I saw the same mastercylinder w/bleed screw in kit at: http://www.vbandp.com/detail.aspx?ID 8. BTW does $470 for total rebuild kit seem a reasonable price? I haven't priced out the individual parts.

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