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I took my 78 to work today. I must have pulled the parking brake to far and I couldn't release it. With the parking brake still on, I then moved the car about a foot forward and backward. I was then able to finally release it. As soon as I did this I felt the brake pedal go to the floor. Now my brake light stays on and the pedal just about touches the floor. The master cylinder was low so I added fluid (too much of course!), pumped the brakes and it still goes to the floor.
I don't see any fluid leaking anywhere at all. I took the car to a mechanic and they pulled all four wheels off and couldn't find any fluid leaks. They're not sure what it can be. I have to take it back to them next week so they can spend more time on it.
On the '78 I had I experienced a problem of low pedal and no leakage of fluid. The brake light would come until the lines were bled...several times it happened.
My problem was a caliper seal was bad...it didn't leak...it sucked air in. Rebuilding the caliper cured the problem.
You may have a different issue since yours occurred after a parking brake problem. I'm just relating what I experienced.
How low was the fluid? If low enough, air could have entered the master cylinder which means removing the M/C and bench bleeding.
Sounds like you're not getting any pressure on the pedal which means air in the system. May have to bleed entire system but I think Roughrider is pointing out a greater problem.
When were you brakes last rebuilt? It may be time...Mechanics will spend much (and $) to troubleshoot the system. It may be time to upgrade your brake system to stainless steel calipers with the O rings.