I agree with just about everything Mike said. I've run slotted/drilled rotors on my last two stangs, including on my current 5 lug/ SN95 disc stang. The only things I noticed that were an inprovement were the look of the brakes, and slightly less fade. The rear disc conversion really didn't help much IMO, which supports Mike's weight transfer idea. I think more came from the addition of 17x8s with sticky tires and SN95 front brakes that are 1" bigger with bigger calipers. My car has reduced front weight, and progressive rate lowering springs, but my nose will still dip a bit under braking. This means more downforce is on the front wheels, putting more stress on them under braking than the rears.
The one thing people seem to be off on, unless I am reading it wrong, is that bigger brakes will make a car stop faster. This is true to an extent. Mike explains it perfectly, although very complicated. Tires are the final word in braking. Imagine driving on ice. You slam the brakes, and I don't care if you're on the biggest, baddest Baers out there, you're going to slide. That's because the tires have no grip. On asphalt, it's the same concept. Bigger brakes don't mean diddly once the tire's traction limit is reached. 14" brakes might take more pressure on the pedal to lock them up over say 16" brakes, but once you do the result is still a flat spotted tire, a skid mark, and a bad 60-0. Upgrading brakes beyond tire capacity is like throwing 3" exhaust on a stock motor. It might look cool, but it ain't helping jack.
Bigger brakes do provide two advantages though. Because they are bigger, and the caliper sits further out from the hub, they have more leverage, or braking torque. This will slow the wheel down to it's lockup faster. If you have really good tires, then you can push to this limit and reduce braking time, but once you pass the limit, again, you slide and have bad stop times. The other advantage is a gain in heat dissipation. This reduces fade, which makes the brakes more efficient under repeated load. Overall, though, tires are the key. No traction= sliding with locked wheels. That's how I crashed my first stang, so belive me, I've learned first hand.