I did a write up of how to restore brake calipers on my NSR/VFR, might be useful to you.
http://www.retroracers.com.au/2012/05/19/al-on-the-brakes/
You should do the forks while you're at it. Get new seals and new oil, you may also need to replace the bushes but wont know that until
you take them apart.
Better springs might be in order as well if you intend to take it to the track, which you certainly should.
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Cheers....
Al
Bikes:
GPZ900
NC30
NSR250SE
RGV250 vj22