brake caliper flex

My bike's almost there (been down for two years...), and all I have left are the front brakes. I did a lot of work on them - tore them down completely, threadserted a bleeder screw, and all that jazz. Now I have them back together, and the right caliper (dual caliper setup) is giving me trouble:

When I depress the lever, it seems to flex out quite a bit (1/8" - 1/4"). Near the end of the lever, the resistance finally gets pretty tough. It does not seem like an air problem because the caliper is flexing out so much, so there's definitely pressure in the hydraulic lines.

I greased the slider pins, and they seem fine. The only thing is that the top one (without the friction gasket) seems to have a lot of play in its shaft. I can wiggle it around quite a bit. I think this is the source of the problem. Is this normal? Should they be a fairly tight fit in there?

Also, I replaced the front brake lever, and I'm not sure it's from a dual master cylinder. It might not be pushing enough fluid through the lines. So if this caliper flex is normal, then I'm just not getting enough fluid in there. Not sure though.

Any suggestions? Thanks!

Dave

Not sure about Your bike,Inspirado...but are the calipers DUAL piston?...one of them sticking(or stuck) maybe?...
Any way You could post a pic of the set-up,and maybe even one of the caliper "flexed" out?

It's only single piston, but dual caliper on the front. I will try to get a picture later today.

Dave