Just your information and what we are trying to get, my truck, '37 1/2 ton, 250 inline six ( light weight then OEM engine ) automatic trans, and '79 Trans Am rear axle and drum brakes. Front axle is stock with a Master Power Brake disk brake kit that uses '70-'79 Camaro/Firebird rotors and calipers. I have Ford 7/8" master cylinder.
When I first got it road worthy, I went to a local parking lot and made a lot of panic stops. I wanted to know what the truck was going to do,and did just what I thought it would, pulled a little right and locked up the rear tires really easy. It left black marks from the time I hit the peddle till it came to stop. I then added a proportioning valve I could adjust to limit the rear braking force. I went back to the parking lot and started making 40 mph panic stops, adjusting the valve till the rear brakes just started to lock. At that speed,the truck stopped straight and as quick as it could without leaving black marks. I adjusted my driving style to match the braking capabilities of the truck.
This why we ask, how does it stop.
Your pedal sounds fine, not to much travel and not bottoming out. Not knowing you, it could just be that you are not strong enough to lock the brakes, my manual brakes takes some effort.
Your pads and rotors appear to be wearing OK, you could try another set of pads as a test. Go to NAPA and get the cheapest one they have, they will be soft and have low mileage warranty.
Good luck,
Joe