i'm in complete agreement with you there... my brakes on that bike are OLD diacompe single-pivots and have very old pads... not to mention old style road levers that have lines that come out the top. i can stop in 2/3rds the distance on my fixed gear, which is equipped with new nashbar jailbrake dual pivots and sakae levers.
all the same, a buick with old drum brakes does not have to yield right of way to a porsche with six piston slotted and drilled 14" rotors.
but i digress(i love using that phrase) -- it's nice to have good equipment but collisions can happen anywhere with anything; being smart, aware, and observant is what's most important.