+1. I'm mad at myself for not doing it a year or so ago when I bought new pads and rotors. It wouldn't have been much more, and there's a 'cheap' way to do it:
Get remanufactured 03/04 Cobra calipers from O'Reilly's (because they are the only ones that come with the needed mounting brackets) for about $80 each. Then get some stainless steel brake lines for about $60. And finally, pick a set of rotors/pads. You can get 'decent' quality rotors/pads from the seller "Brakemotive" on Ebay for about $100, but the zinc coating will wear off after a year or so. I'd have to look around, but there's also another seller that sells VERY good quality rotors that come powder coated and supposedly won't rust for around $160. Then add a set of Hawk pads for $60 and you're done.
Voila. Front Cobra brake upgrade for $300-$400.
Also ditto on doing all the maintenance stuff.