I replaced pads only, front and rear, at 115k miles, then pads and rotors both at 230k. I would recommend replacing the hardware -- I had a rear brake dragging due to the pads binding on the retaining pins. You should get the power bleeder and flush the fluid annually -- you don't want to find out how expensive an ABS unit is. One quart is enough to flush the fluid on these cars.

'98 V70 5-speed 242k, '91, '88 240s, '69 164, '71 Mercedes, '21 & '42 Packards