draining brake lines?

Don't have to drain the lines as the master cylinder should be the highest point in the lines anyway, however it is a wise move to flush the lines and install new fluid every couple of years anyway. This is because brake fluid is very hygroscopic (attracts water really well) and rubber brake lines can't fully prevent the fluid from attracting moisture. If flushed regularly, there's less of a chance for your master and slave cylinders to rust up prematurely.

Also make sure to get all of the stripper washed off. This stuff is usually very caustic and will corrode any metal it is left on. Maybe take precautions to prevent it getting in the framerails or any other place you can't get it out of.

Have fun!

Brake fluid does an excellent job of taking off paint, so be careful.