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Definitely fluid and pads. I've found braided lines help, but it's probably the same deal as bushes, changing 20 year old rubber lines for new rubber lines will probably feel just as good as fitting braided lines.
As @jambon said, Rodders pads are good, I've actually had a positive experience with EBC yellows on Minis and MX5s, also inspect your vacuum line and check valve to the brake booster. Stoney racing (I think) do a silicon one for about £20 I think and that made a big difference for me.
NurseHolliday-
Where would I find those pads? I'm not having any luck on Google. Also can you point me to any instruction about the vacuum line. Ta.
The problem (or perceived problem) is that putting your foot down on the brake doesn't do much. I would say it was spongey. I also don't know if I'm just expecting too much of an old car.
root
Not a great recommendation. I want to improve the braking on my mx5. Its feels ropey as. I was going to put some new fluid in, some braided lines and swap the pads in the hope it did something to improve things.