Thanks for your advice... I'll get the jackstands at Sears this weekend (any specific suggestable model I should be on the look for? Preferably economical, reliable, and SMALL, so that I can hide them somewhere after use...) and I will look into all you have suggested, with the help of my Haynes manual to make sure I understand everything correctly, and then report back here soon.
While I am at Sears, what are the other special tools I am going to need that I should get there (I have no tools that are specific to brake work).

Winmutt, I am unclear about your 99_cent solution: does the jar you mentioned imply the use of a power bleeder along with it, or can I just use the jar and do the bleeding myself without the aid of a second person? Thanks...

Rino

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1979 240D, W123, 105K miles, stick, white w/ tan interior.