As far as the brake pedal going to the floor, it sounds like you may have a maste cylender problem. I would lift the car one wheel at a time to check if the brakes are working at each wheel. Also, does the car have 4 wheel drum brakes or does it have disc on the front? If you're getting a bad dip in the front, make sure the rear brakes are properly adjusted.
As far as the hard brake pedal, make sure the brake booster is getting vacuum to it. The hose could be bad, or not connected. Or the booster itself may be bad.
Let me know what you find. If you have other questions, let me know. I love working on the oldies!
Friday, November 7th, 2008 AT 9:25 PM