Henrietta the '38 Ford pickup, 307 Chevy and a T-5 from an '86 S-10. Hydraulic clutch using master and slave from a '70s Mazda/Ford Courier pickup. Setup has worked well for a long time. Had to tear it down due to ring gear chewed up on flywheel and starter not engaging when it landed on one of the bad spots. Picked up another 168 tooth flywheel with a good ring gear at the junkyard. Put everything back together, bled the hydraulic system. Slave cylinder has plenty of travel and pedal is firm. With the clutch in all the way, it's not releasing. First thing that came to mind was that I might have put the clutch disc in backwards, tore it back down, found that the clutch disc was turned the right way. What am I missing?
What else did you change besides the flywheel? If nothing, then the only thing I can think of, is that the flywheel surface is deeper in towards the motor, and the TOB can't push far enough.
Can you see the pressure plate moving and does it leave a gap on the clutch disc? I have seen flywheels surfaced so thin that the springs on the flat side of the clutch disc hit the flywheel mounting bolts. Have you tried putting it on stands, starting the engine, push in the clutch and slowly applying the brakes?
check the bellhousing bolts on the left side I had them loosen up it took almost two weeks to find out when the clutch pedal was pushed in the bellhousing moved away from the bloch 1/2 inch