Follow up:
New fluid and lines got the pedal feel back, but the brakes were squealing and making a barely audible jingling sound that they never made before. So, I tore them apart. In case anyone is curious, here are my conclusions. They might not all be right.
1. Fade at track, and soft pedal on the way home was:
A) Fluid was cooked
B) Pads were lightly toasted.
2. The faint high pitched jingle was the spring clips between the caliper bracket and pads. The were loose allowing side to side movement of the caliper unless the brakes were on. Backing plate was hitting the bracket and making this really obnoxious jingle. Jingle jingle. Jingle jingle jingle jingle jingle. It will drive you crazy.
3. Post track squeal was that the calipers got hot enough to cook out the anti squeal compound.
4. With no deflectors, it is possible to melt one dust boot on freshly rebuilt calipers. It happens where you would expect: front caliper, leading piston, up top.
5. I need to do something differently next time. Technique, air deflectors and new pads seems like the right ticket to me.