The brakes in this '87 were very not so good since I got it last month(only drove it twice now though). Initial push of the pedal got me very squishy brakes, and if I pushed it again they got much firmer. I flushed the fluid out today, and now I have more consistent braking, but it feels pretty squishy. So either I did a poor job bleeding them, or I need a new master cylinder. But pumping them up doesn't seem to get my anything now, either.

How is everything else in the braking system? Lines? Wheel cylinders in good shape with no leaks?

 

A commonly overlooked thing on these cars is the rear drum adjusters. If you look on the back of the drums you will see a square nut (literally a square around 8mm). You should start soaking both the left and the right sides in PB for a few days so that it will move since it probably hasnt turned in a long time. The rear drums should be adjusted so that there is a slight drag on the drum. Turn the nut clockwise while spinning the wheel (cars in the air at this point and on jackstands). When you get slight drag your done and move onto the next side. Then feel your brake pedal. It will probably be a lot stiffer.