Brake problems-S13-help meatish out.

[meatish]

Okay here's the symptoms: 1989 w/ SS brake lines, powerslot rotors, hawk pads going on 2 yrs.

After an event on sunday, my brake pedal felt very soft, and I could push it a few inches of travel without feeling any resistance. If I floored it, i could feel the contact, but it still felt very soft even if I stomped it. I was checking my fluids and noticed that my brake fluid was pretty low. So, I topped off the reservoir w/ DOT3 fluid. As I pulled out of the garage, my pedal felt very very soft, and there is now a grinding noise, like my pads are in contact with my rotors. The ebrake is all the way off, it's not that.
What is it?
The pedal travel, is probably low brake pads?
But what about the grinding noise?

Thanks for any help.