A couple comments on brake fluid:
1. Check to see if it's been replaced with Silicone DOT 5 fluid, it's usually purple. If it has been replaced, DO NOT add DOT 3 or DOT 4. Same is true if it has typical DOT 3, DO NOT add DOT 5.
2. Bleeding the brakes on these cars with the Kelsey Hayes calipers gets out some of the old fluid and any air but, the bigger problem is that a lot of the old fluid stays in the caliper along with any moisture/crud because there is no drain at the bottom as you would find on today's calipers. Over time this can lead to rusted/frozen pistons and poor braking. I remove my calipers every 5 years and turn them upside down to let the fluid drain out and then refill and purge the air. If you do this, make sure you don't let the master cylinder run dry otherwise you'll need to take some extra steps to get the air out of the system.