You are probaby going to need a new master cylinder. They're a tad bit
expensive, but MUCH less than bent sheetmetal or broken human bits if the
brakes decide to fail.
Before you do anything though, I really recommend the installation of "Speed
Bleeders" at each wheel - http://www.speedbleeder.com/ - to make the bleeding
job easier. I phoned them up and they knew exactly what I needed. I ordered
five bleeders (one for the clutch slave cylinder as well) along with their bag
and tubing kit to catch the old fluid. This entire project ended up taking
only an afternoon to completely replace both the master cylinders, blow out
the lines, put the stainless steel braided lines on at each wheel, install the
speed bleeders and refill with DOT5 (silicon based) brake fluid. I ran an
entire large bottle of DOT5 through in order to make sure I had removed all the
old fluid, then filled it up with a fresh smaller bottle. I did have to bleed
my brakes a few more times over the summer last year - I think to get rid of
any residual air bubbles or moisture. My brakes feel great now.
As someone else said - the map light is supposed to shut itself off when
returned to horizontal position, but they wear out. I use a cheap metal
"broomstick holder" that holds mine up in place, but had to use electrical tape
to wrap it as I think it grounded the map light and made the light stay on.
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