I did a search on Ebay and there is a company that make the valves, and interestingly they are only 5 miles away! As it was Bank Holiday I knew I would have to wait a few days, so I took the pipes off and took a careful look a them. they seemed OK, looks like it was the valves then...
I read the instructions from the company on how to replace them, and removed them from the pipes, it was pretty easy from their instructions. So I now had 4 valves sitting on the bench. Three of them seemed OK, but one, I could blow through either way in my mouth so I decided to take it apart.
with it clamped in the vice (soft Jaws) I used a pair of pliers to prize it app apart. it actually came apart easily. as I pulled the ball and spring out, the problem was easy to spot... the ball was actually stuck in the spring! I gave the spring a little tweak to stop the ball going back in and assembled it back together by just tapping the end back in.
before I did this however, I very gently faced off the ball seat by carefully rubbing it on some 2000 grade wet and dry on a piece of glass. It didn't take much...
I did this to the remaining three valves (which were actually OK - but it was an opportunity to check them) and put the pipes back on. The result is there is no air or bubbles in the lines any more. Thought I would share this with you guys, just in case no one else has done this! here is a picture of the offending valve, and a link to the sheet from the company that sell them.
http://www.1970sjapmotorbikeparts.co.uk ... ctions.pdf
