Thanks to detailed instructions from experienced folks on this site I have replaced the front rotors, and front and rear caliper rubbers and pads and all 4 brake hoses on my 1992 740 8-Valve, (with ABS, but no turbo). I think I did a fairly careful job and bled each caliper as I went around, then all 4 calipers in the proper order at the end. I used a Motive pressure bleeder from IPD which made the bleeding fairly straightforward.

Just tried it out for the first time and both the brake pedal travel is further that and the pedal is softer that I would have expected. The brakes perform fine otherwise, no noises or pulling to the side.
1) Should I just drive it and see how it goes? Is the pedal likely to firm up?
2) Do the brakes need to be bled again now that I have used the brakes (and so the pistons are in operating position close to the rotors)?
3) Do I need to do a brake break-in procedure on a car of this age?
e.g.:
http://www.zeckhausen.com/bedding_in_brakes.htm

Thanks,

Rob