You did not describe your symptoms too good, but it sounds like your brake booster is not working right. If you put a large amount of pedal force and the pedal does not move, and the brakes barely respond, then I may be correct. Look at the vacuum hose that supplies vacuum to your booster. You may be lucky and the "air" sound you hear is a vacuum leak due to bad hose connections or a bad hose. If that's the case, you may also have a bad idle due to the vacuum leak. The leak could be internal to the booster, in which case you will have to replace it. If the pedal sinks to the floor with little resistance, and the brakes barely respond, then you have problems in the hydraulic system, possibly just air. I also noticed you have a 2 barrel carb on this engine. You may want to install a 4 barrel. The fuel economy benefit is marginal (or more likely non-existent) while the engine lacks the power it could have had. My opinion in this is that your car sucks the gas one way or the other, you may just as well enjoy it! This will not help you too much with your brake problem though... D^2