Sounds like you got a buy if not rusty. Welcome to the forum.
Since you do not really have the history of the maintenance done on the car I would do lots of checking. These cars do have a dual master cylinder so the chance of blowing both sides of the master cylinder is slim. Check the fluid and fill if needed. Look for signs of fluid running down the brake booster, if it has power brakes, or firewall. If there are signs of fluid the master cylinder needs work.
The next big thing that has changed in recent past is the fact that they put Methanol into our gas, sucks. The old rubber gas lines will come apart if not made to be methanol resistant. It is not much cost and just a little time to go ahead and change all the rubber lines. From tank to the metal line going to the front inner fender under the master cylinder. There is a loop of rubber line going from inner fender to line on fuel pump and some from fuel pump to filter on carburetor. Change them all and ask for the methanol resistant line at the parts store.
Since you have never had one of these cars if you take something off do not think you can go get a new one. Lots of parts are very hard to find so always be careful when removing parts. Things like the master cylinder if you have to replace keep the original if it is the Ford one. Replacements are different. You might want to remove the gas tank and look inside to see how it looks you can get them cleaned if it looks bad. I would put some Sta-Bil in the gas when you do fill it up that helps with any issues in the carburetor.
Hope it turns out to be a great car they are fun to own.
When parked in garage always unhook the battery. You can get a quick disconnect that you just flip a lever to disconnect. Always carry a fire extinguisher with you.
Thats a lot of great advise, Thx David.
So I spent a few hours with it today. I checked all the spark plugs and put a little WD40 i the holes. Checked all my fluids, changed the battery, etc.
GUESS WhAT? It RUNS!
So David you saw this coming. The Master cylinder is leaking all over the booster.. Its appears to just be the rear reservoir thats loosing fluid
So I guess that will be my first real project with her.