I wouldn't say that you can't get a parking brake that works with rear discs.
I converted a friend's '65 Mustang ('59 Fairlane 9-inch drum brake rear under it) to Mk VII discs back in '02. I hooked up the existing drum parking brake cables to the Mk VII's calipers, and they worked fine.
Since that time, I've sold more than 100+ conversion kits for the Mk VII rear disc setup all over the U.S., Canada, and even as far away as Sweden, with good feedback from the owners.
My '68 started out with manual 4-wheel drums. I had swapped in a '57 Ford station wagon, big bearing, drum brake, 9-inch rear into my '68 in '96. In '97, I swapped it for a '79 Lincoln Versailles disc brake rear end.
I've recently taken the Versailles out to be replaced by an '80 Monarch 9-inch drum brake rear end that I'm converting to discs using the '94-'04 Cobra rear discs, using a new conversion bracket I designed. These brakes are considerably lighter than the old Versailles units.
I'm trying to sort out tying the Cobra caliper's parking brake cables back into existing cable system of my '68. IF this doesn't work, I'm quite sure the adaptation of a late model brake lever mounted on the driveshaft tunnel will be more than effective in actuating the parking brake levers of the SN-95 Mustang calipers.
Some advantages of discs over drums is that they run cooler, maintenance on changing brake pads can be done MUCH faster than with changing shoes on a drum brake system, plus they have a much higher "cool-factor" when looking at them through the spokes of the wheels, as compared to drums.
I suppose it's just a matter of taste as to what you like, vs. what you don't like.
Mk VII rear disc installation:
http://www.ultrastang.com/Ultrainfo.asp?Page_ID=11
My current adaptation (in progress) of Cobra rear discs:
http://img148.imageshack.us/img148/6366/cobrabrakehosemount0244jj.jpg
www.ultrastang.com