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I have always done the brake work on my 240's 740 and 940 and found it a quick easy job, except for problem with caliper and pins. When getting pads you'll have to determine the caliper type and if you have one or two piece rotor/hub. See FAQ.
I am not sure of the caliper and rotor type on your 740. I have the Bendix calipers that slide on two pins (hollow pins that slide within the caliper with a retention bolt thru it). If you have the these two piece calipers, you want to make sure that the calipers move easily, especially the bottom pin. They are prone to rusting in the caliper wall and sticking. You can buy a kit with new pins, rubber boots and grease for about $35.00, but want to hone or clean very well the interior wall of the hole in the caliper. See FAQ about these brake pins if you have them.
If they stick and you don't properly fix them. You will just warp another rotor from one pad engaging while the other does not.
Also if you have a one piece rotor hub and plan on keeping the brick for a while, you can buy replacements part to make a two piece so that the next time you have to replace a rotor, it will not be so expensive.
If your system has never been flushed, I would suggest doing that. REMEMBER YOU NEED DOT 4 FLUID. A power bleeder make this easier.
Good luck.
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