We rebuilt my dad's car with the stock four wheel drums, but added power brakes. The car stops fast and square as the brakes are properly bled and adusted.

I would prefer disc brakes, especially since 99.9% of the cars on the road have disc brakes. Since this is a fair weather car and won't be doing mountain work or stop and go traffic, drum brakes are adequate. Repeat...adequate. They work as well as they did when the car was new. By today's standards, they would rate poor.