I did try with the pads and disc in place. It did feel a little bit spongy at the end of the throw -- spongy as juicy 3; I guess it's due to material flex rather than bad bleed.
I found something about pad reset : pull the lever until the pads are 2mm apart (no disc) then insert disc/plastic spacer and pump the lever. This should help position the pistons thus adjusting lever throw. I will that as soon as possible; for now, I'm a 45minutes drive from my bike.
The lever screw adjusts the position (angle) of the lever and has nothing to do with how much it moves prior to engaging the pads on the disc.
I'll keep you informed.
Edit : I had somebody do that "pads reset" and it didn't do it. I don't get it. I had the thing worked on because of damaged caliper piston -- it worked well otherwise -- and now this... Argh!
Edit# 2 : Today I did it myself; I had to squeeze the pads 1mm apart, pull them out, push the pistons back in a little and voilą! It works!
Last edited by twicethefun; 07-25-10 at 04:44 PM.