I replaced the 105 brakes on my '87 Trek with some closeout campi veloce brakes I got for $35 on ebay. I felt like these modern dual-pivot brakes were definitely an upgrade, but be forewarned that these on the campi chorus brakes do not have quick-release - that feature is in the campi lever.

I did something similar with my italian ss. This time it came with campi and (omg!) I switched to Nashbar $30 dual-pivot brakes. The Nashbar's were probably the better design of the two sets I tried (quick-release, and cartridge pads). In both cases I didn't feel like I was getting enough braking power from the old single-pivot designs.

With the Trek, I had to drill to get the new brakes in. It was not difficult. Sheldon's site says to "drill out the back of the fork crown (8 mm or 5/16 drill bit)". The article is about halfway down this webpage. Go to Recessed Brake Mounting. http://www.sheldonbrown.com/gloss_ra-e.html