I blew the rear out of my 01...I can't locate another used one with disc brakes anywhere BUT I've found a nice one with drums. Am I losing a lot of stopping power by changing over or should I stick with the discs?

Will the disc master cylinder work with a drum setup?

 

A drum actually has better stopping power, a disc just vents the heat better. If your came with disc, stick with disc.

 

incorrect due to the fact that a disc has more swept area compared to a drum hence BETTER stopping power. this is why drum brakes are a dying breed. find a new vehicle today that comes with drums.

i am not certain about your master cylinder compatability, but i think it will not work due to the fact that disc brakes and drum brakes use different amounts of fluid to apply the brakes which is why they come with different volumes and diameters of the pistons internally. a disc brake will use more fluid due to a larger piston diameter compared to a drum cylinders smaller piston diameters.