I was headed out to get some new tires for the truck, pulled to the end of the driveway (about 10% downhill grade), stopped, waited for traffic, took a left down the hill. Ten seconds later I had no brakes whatsoever. The stock master had spent years stewing in it's own muck and the piston seals had all but dissolved. When I put fresh fluid in the system all it did was wash the remnants out of the bore, about 10 pumps and it was just sloshing fluid around. I ended up buying a new M/C, lines, and sheetmetal.
At the very least, you should flush the system thoroughly and check for any leaks at the wheel cylinders/line blocks. Inspect the lines, and keep in mind that they tend to dissolve from the inside; replace if they are questionable. "Brick" the brake pedal and make sure it doesn't leak down, and make sure the parking brake will be there in a crisis.
"Safety forced." - Red Green
