Subject: Re: v12 master cylinder
As Peter says, it will work, and pedal travel will be less...but you will have to press significantly harder to achieve the same level of braking. The result potentially is that you might not be able to press hard enough in an emergency stop situation, and in any event you could find the brakes tiring to use in heavy traffic.
If your request is simply that you've been unable to obtain the correct master cylinder, you could have the new one sleeved to 1.25", using stainless steel so no rust in future!
Laurence