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I am restoring a 73 mustang, it has been sitting for 10-12 years. What are the chances of the brake master cylinder still being good?

What about the powersteering parts?

Thanks
 

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Slim to not at all. After all it's what save your butt from rolling pass a stop light or sign and getting nailed. How much is that worth to you. Or rearending someone to save a few bucks. Never cut corners on brakes. Brake cylinders and disc brake caliber seals are probably history to along with all the rubber hoses. Power steering, probably leak from seals drying out. Start it slow and keep checking it.
 

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Flush the lines too and check for rot - brake fluid is hydroscopic (sp?). Absorbs water like crazy.
 
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