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Is brake run out the distance between the brake pad and rotor. How do I adjust this. How hard should your brake pedal be with power brakes when the car isn't running. How do I know if I am able to rebuild my calipers with o-ring seals. How do I know if the caliper is S.Steel sleeved. How do I if my calipers are O.E. My brakes are the only thing on my vette that I just can't get right I've had them bleed by other people 4times in the 4 years I've owned it. They are good for a week then peddle gets very soft. It still stops and will lock up all 4 wheels but its not right. I bought speed bleeders and spent all day saturday bleeding brakes even had my wife help put 2 quarts fluid throuh it didn't make any differance. I can't just throw money at this and change stuff and not have it help. Want to do the work my self so I'll understand the problems with the brake system besides I have more time than money.
...Is brake run out the distance between the brake pad and rotor...
No. Run out is the amount of wobble in the rotor. If run out is beyond factory specifications, the uneveness causes the calipers to pump air into the system. Factory rotors were riveted to the hubs; the hub and rotor assembly was then machined to meet factory run out specs.
Corvette brake pads are in touch with the rotor at all times. There should be no space between the rotor and the pads.
...How do I adjust this...
Measure the run out with a dial indicator and either shim or replace the rotors.
If your master cylinder and calipers are original, they probably need to be rebuilt\replaced. Age takes its toll.