'70 Eldorado 2001 ESC
82k miles and it's beautiful! ...but, today the brake pedal went to the floor with red brake warning light on. I pumped it up and drove home about 20 miles in traffic, the pedal stayed firm but both the red brake and yellow ABS lights will light up when braking, but not consistently on every stop. I checked the reservoir level, right at the full mark. One other minor detail, at a traffic light a few miles before this happened I saw smoke coming from the left (driver side) front wheel and smelled burning liner, not fluid. Related? I have no idea. If this was non ABS I'd throw on a new master cylinder. What do I do with this one? I looked up the price for the ABS unit...$950? HELP!