This really needs to be a sticky.
I did this today on my 97. I did the front brakes yesterday (new pads, calipers, rotors, and hoses) and when bleeding, heard fluid "gurgling" in the master cylinder. I have never been happy with the brakes. After reading the info on this upgrade, and since I needed a new master cylinder anyway, I thought today was the day. I was hesitant about it only because bending lines can sometimes be an issue to get them lined up properly and not cross thread. In this case, not an issue at all. Because of the way the lines go into the ABS module on mine, they were coiled right there and just bend down and back easily. I didn't tighten up the 2 mounting nuts on the master cylinder itself until I got the lines started. A little wiggle room always helps. I did have an issue with the front line with the adapter leaking, but I took it apart and put it back together and no leak. Don't argue with magic.
After bench bleeding the master and installing it, I let some fluid drip and had a firm pedal. I really think I could have gotten by without bleeding at the wheels, but I hit all 4 anyway. The feel and confidence in the brakes is much better. I know an iffy stock master cylinder factored in, but this is really nice and firm. I wonder how much of the improved pedal is due to the "upgraded" master cylinder or the fact that most of the ones in our trucks are approaching 20 years old. Either way, it's all good now. I got the master cylinder at Advance Auto for $63 (always check Retailmenot.com for discount codes, I got $30 off) and the adapter at Auto Zone for less than $3. The MC swap only takes a few minutes. Getting everything together and bleeding the brakes takes a lot more time, especially with beer breaks.