On the 4 wheel disc conversions I have done (1 manual and 1 power) I use a 15/16 or 7/8 MC along with a disc/disc combination valve; seems to work. Its all about line pressure and there are a lot of factors at play which is part of the reason that a set up one person is using works and the same set up for another person doesn't. Another part is the problem is perception; everyone has a difference idea what "good" brakes are. This is why hydro-boost has become popular; because it overcomes many of the deficiencies a system might have by dramatically increasing line pressure, thus making the brakes more efficient.
You have to look at brakes as a system which includes every component within it; pedal ratio, booster, engine vacuum, MC, various valves, brake lines, piston number and size, caliper condition and efficiency, rotor composition and size, tires and even type of fluid. Changes in any or some of these issues can affect braking or better said how good the brakes stop the car.
What most classic car guys experience is that they have a car that does not stop well (whatever that means to the individual), they make changes of one kind of another and then compare the outcome to what they had, usually by seat of the pants feel. If it is better than they believe they have "fixed" it and move on generally. The point is that what works for one person may not work for another. Sure, there are guidelines that yield decent general results but to be honest very few people actually do any real testing or comparisons. Most who ask me about improving brakes I tell them to get good pads and good tires, then work inward (assuming the general system is sound).
Last point; I would say that 4 wheel discs are more efficient than drums generally, but I would quickly say that a good drum or drum/disc set up that is efficient, in good working order with good tires can perform exceptionally well. This is even more the case with modern performance shoes/pads. In other words, you don't need 4 wheel discs to stop these cars, stock brake systems can work but usually not as drug out of the field or barn, they need to be made efficient even if stock.