I replaced the brakes on my 73 280C (also 114) not too long ago. They're amazing easy to work on. I would give you this tip, in addition to what's already been said: don't bother trying to rebuild the calipers unless you know they've been rebuilt or replaced recently. I went down to my local import car parts store and bought rebuilt ones (good as new, really) for $50.00 a piece. Before that I did try to rebuild one but it was so rusty and scored inside that it wasn't worth saving the $30.00 in price over a rebuild kit ($20.00?). Also, while you've got the wheels off the car you might as well replace the rotors. You can find them for about $25.00 a pair NEW on eBay or some of the internet parts houses (e mail me if you want some recommendations).

When you mention "expensive" for a master cylinder, what do you mean exactly? I bought one a year ago (internet parts house) for $125.00 and I've seen them go cheaper on eBay. This is probably comparable to buying one for most Chevys or Fords.

Indeed, I have to say that one of the surprising things I found about owning an old Benz is that you can find parts easily (because MB tended to use the same parts for, say, 30 years) and they're no more expensive than most other, more pedestrian cars. I used to own a number of Peugeots -- now THOSE are expensive parts -- at least 2X-3X what I pay for comparable MB parts.

Good luck!

Catrinus
73 280C