I would also check your rear wheel cylinders. Typically when they go, they will leak inside of the drum. Sometimes they don't. I would pull the push rods out of the wheel cylinders to make sure there is no fluid sitting inside of the dust boot. Occasionally they will leak but not enough to get past the boot.
Key thing to know about brakes, is that they will do nothing until all of the pressure is equalized. The rears could be way out of adj, for example, and you won't have much of a pedal because most of its trvel is being used to equalize the pressure until the very end.
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