Nearly every component in the braking system was in need of replacement. After a wait for parts, everything is now replaced, including: master cylinder, steel brake lines, rubber brake lines, brake line clips, front calipers, front pads, front rotors, rear cylinders, rear shoes, etc. I was able to salvage the rear drums, parking brake cables, and hardware.
It was a messy job removing everything, but it was nice working with the new parts on re-installation. Once everything was hooked up, I used my homemade pressure bleeder to force all new brake fluid through the system.
Once that was done I (finally) put the wheels back on and took the bus for a spin up the road. So far, so good!
Next up is the heat hook-up, engine seal, and wiring, then I'm pretty much done!!