I recently had to replace my emergency brake cables and rear calipers. The ebrake handle would pull all the way up and the brakes wouldnt engage. So I tightened the cable and the ebrake handle wouldnt come up. I yanked on it and the brakes engaged - but when I put the handle down the rear brakes stayed on. Turned out (the car was from Jersey), the rear caliper arms for the ebrake cable had frozen.
In the process, and through time, the cables became overstreched. So I had to replace the whole system. The cables cost about 40 each (3 total) and the rear calipers were somewhere around 120 with core.
It's not too difficult to install if you drop the exhaust and heat shields - some bolts were fused to the studs, so take your time if you want to keep the shields.
All in all - for the age of the car, it was needed. So I can't complain.
'06 White EVO 9 SCCA SM
'93 Black NX2000, Project Car - SR20DET mild tune w/full refresh