The only time I've ever had to reset the proportioning valve is when someone continued to drive the vehicle with bad brakes and brake pressure was lost transferring most pressure to the opposite end of the vehicle to compensate to pressure loss. In that case it was bad rear wheel cylinders and the front calipers were strong so the valve's internal piston moved from its centered position to divert all pressure to front brakes . I had to open the front bleeders just to get the valve back into centered position in order to bleed all four wheels .
Yes , I agree , you'll want to avoid this . What your manual is telling you is to loosen a mounting bolt and insert a flat piece of steel with a forked 45 degree end tightened under the mounting screw to hold the internal valve in the correct position while bleeding to avoid having to reset the valve and bleed all four brakes to correct this condition and not make more work for yourself than should have been . Assuming you know the master cylinder MUST be bench bled BEFORE. Installing it . As long as no fluid is lost in the line(s) when removing the master cylinder , the bleeding process will be minimal . Since you are changing a master cylinder , it is a concern that the valve can move feel it's centered position while bleeding a front or back brake first and the bleeding method used is to pump the pedal . But as I've stated , as long as there is minimal fluid loss and the lines are still full of fluid and little air gets in to the system , the lines should bleed quickly and pressure should remain strong equally front and back . The only time a problem could occur is if the valve jams in the opposite position and freezes due to internal corrosion due to a now stuck valve. This is one reason why it would be good practice to follow the manual . From my experience , the last master cylinder swap worked out fine without any concern of the proportioning valve moving out of position since I made certain the lines were kept full of fluid when I disassembled the master . I know you'll want to bleed the system , but start with full lines to make the process faster and no problems.