Also, before thinking about a complete rebuild, start out simple. It may be that the slider pins haven't been lubed in 30 years and are sticking, but the pistons themselves are moving freely.
Just guessing since I've never had this issue, but it seems like a logical first step.
Or, if its a linked brake version, then it could be the SMC, which would complicate the repair steps a bit.
OP: that's why we need to know details of the bike specifics.