I'd check the pads... Look for the wear pattern.. See if they are making a full contact of the surface of the pads to the disc...
I have sanded the pads 3-4 times to get them to fully lock up right..
Loosen the adjuster, put a piece of 60-80 grit between the pad and disc.. Move it about to take off a bit with your hand on the actuator arm to have slight clamp against it..
Spin the wheel a bit to encompass the whole rotation of the wheel/disc.
Do this a few times. Clean with Brakleen, try not to touch the clean parts, aswell avoid the brake dust, as it might be asbestos in it..
You might have to take a slight pass with a sander pad on the disc aswell depending on if there is a glaze present, it should be a matte ever slight rough finish...
When reassembled, Check the effectiveness of stoping at a lower safe speed, in a safe area...
There might be some mechanical losses due to the added pieces for extending the actuator arm..