I need a small master cylinder with 7/8" bore

The rubber boot is not there to "capture" the brake pushrod. The brake rod should be captured by the brake pedal being against the stop when the brake pedal is all the way up. ...
You mis-read. I didn't say the rubber boot had anything to do with capturing the rod (just keeps dust out). On manual brake rods, a stiff rubber bushing fits on a groove at the end of the rod. When you insert the bushing into the MC piston, the bushing locks it in the piston. People say that manual MC's have an internal step in the piston's hole to help grab the bushing (I never checked). My point is that in the "power MC" I used, the bushing still locked in very tight, so "should work".

You are correct that the brake rod won't pop out if there is no such rubber bushing and if as the pedal returns to its high stop, the MC piston follows it (due to its internal spring). But, what if the piston hangs up due to rust? I think the brake rod could get enough clearance to come loose. Unlikely, but one guy said it happened to his son. If so, next time you try to apply the brakes the rod might be pushing on a fixed surface, thus no brakes. My MC bores will never get rusty since I use silicone fluid, but what of the poor souls here who are not so enlightened?