UPDATE: Front brake holds pressure now, except the lever feels like the system is pressurized......no "free" play once the lever makes contact with the MC plunger, and it's a HARD lever, and there is insufficient braking action for that amount of lever pull.
I also overfilled the reservoir, because you can't see any air above the fluid level in the window and I thought MAYBE that was causing it, but it just occurred to me the the CALIPER is probably frozen!? So yeah, now the search is on for a replacement caliper or rebuild kit. The casting is featureless as far as I can tell, I assume it's a Nissin?