No, that's a distribution block. There's no proportioning valve on a drum brake system. I have always had the best luck on older vehicles by simply gravity bleeding.
I have had master cylinders return from a pump and suck air in around the cups before the piston seal in the master cleared the return port.
On ones that are being a pain I sometimes use a squeeze bottle with a plastic hose on it to fill it from the wheel cylinder up instead of from the master down.
