Bah! Nowt wrong with the brakes of yesteryear, mind you my mum used to wonder how I went through shoe leather so quick. The real problem was the steel rims as pointed out, I used to ride with these in the Pendle area of Lancashire with side pull brakes. I learnt my survival bike handling skills going down 20% hills wearing a cape with a tailwind and equipment as above, looking back I'm surprised I survived.
