Different thoughts on master cylinders. If it were me,I would buy a rebuilt one from White Post Restorations that has a stainless steel sleeve installed in it ,or just buy a kit to put a dual-outlet master cylinder on it,and leaning hard on the dual outlet master cylinder. I wouldn't go for the power brake option,though.
If I were putting new brakes on a drive car from scratch,I wouldn't even consider a single outlet master cylinder. I can see them for a restored show car,but not for a driver car.
Don't even think of rebuilding the wheel cylinders. You can search around by partnumber and buy then new cheaper than you can buy a rebuild kit. I was being quoted a price right at 100 bucks each for wheel cylinder for my 39 IHC PU,and I did a web search for the parts numbers and bought brand new US made wheel cylinders from Amazon for $4.50 each. Come to find out the 53-54 Corvettes used the same wheel cylinders,as did other more common cars.
BTW,go ahead and replace the brake lines,too. No matter how good they look on the outside,they are steel,and there is no telling how much rust there is on the inside. Use the new copper-nickel brake lines and never have to worry about rust in or out again.
Replace all the rubber hoses,too.
Then plan on fitting a new reproduction gas tank (plastic or galvanized) into your budget,and use copper-steel brake lines for gas lines,too. I have a couple of tanks from Tanks,Inc in different cars,and have nothing but good things to say about them. The price is even good.
The last tank I pulled off maybe a year ago looked good until I pulled it off. VERY little rust on the bottom. The top had a hole I could stick my fist through,though.