Guys, bottom line: Some people don't know enough about automobiles to make an informed decision about costs, needed services, etc. I recognize at least two of you from this thread.
The whole point of having this forum is to help those people who don't know any better.
Most of these reply's were accurate. The cost of those major brake parts for a 1st generation Explorer(it does not matter 4WD/2WD) should only be around $300(high side retail). I agree that the cheapest can be had for about $200.
The most important thing that this forum can do for the novice, is to advise you about which components are so important that you should buy the absolute best. It is almost as important to teach you which parts do not really matter where they come from.
Unless you are racing, for street use , all rotors are basically of equal quality. The same goes for drums, seals, calipers, brake hardware, and brake lines. You should buy the best fluid that you can, and unless you baby your brakes, buy a high quality set of pads or shoes.
By these guidlines, the 1st gen. Explorer brake parts could have been bought by anyone for about $300, including brake lines, hardware, and rebuilt calipers.
Labor is a whole different subject. Everyone has a different availability of qualified mechanics, and different labor rates. I personally wouldn't charge over $300 for labor for installing just the major components. But some people may not know where else to go, and are stuck with what they have.
Price the rotors and drums at Autozone, plus seals, hardware, rebuilt calipers, and even wheel cylinders. Price the pads and shoes from Ford, retail. All of those parts could have been bought by the owner, and taken to whatever mechanic is available. In this example, more 160,000 mile parts could have been replaced, for less money.
If the advice from this forum is heeded, many hundreds of dollars can be saved on these basic maintenance services. I hope someone learns something from this thread. Good luck all,
Don W