Brake Fade Issues

I would use caution being that you said you are new to brakes. Do not do this alone. Get the help of someone who Is familiar with doing brakes, not just putting shoes on. Really, brakes are the most important mechanical system on a car. Number one. When they get this old and you have rust in the system, it will be in the whole system. Personally, whenever I have purchased an older car the first thing that I have done is a complete brake system overhaul. Not really expensive especially when you consider the possible alternatives. Get a good book on brake hydraulic systems and read it several times. Get familiar with the terms and what everything does. Always have an assistant with experience. A clean work area. Plenty of space. Proper tools. All of the proper parts. New, sealed brake fluid. Plenty of light, clean rags, brake clean spray. Don't try to rebuild brake parts when this old unless they are just not available anymore. Buy new and buy Western mfg. parts. Not Eastern/Asian parts if possible. New bearings, races, seals, brake hardware kits (springs, clips etc...) premium shoes, wheel cylinders, hoses, possibly metal lines if rusted, drums if oversized, New not rebuilt Master Cylinder. If you can't afford all of the stuff at once, don't buy cheap stuff instead just so you can get it done. Again this is the most important system on your car. Safety first. Just make your self a list and buy what you can afford, a part at a time if you have to until you have everything that you need and get the best quality that you can get. Remember that everyones life may depend on it and you won't have to replace these parts again for many years if maintained properly.