There are alot of Texas guys on
www.myrover.net Soundsl ike your brakes need to be bled to firm up that pedal - while you're in there, completely change out the fluid so it is fresh also. The knocking...are your calipers in good shape? Also, you say you need new shocks...are the bushings bad or worn out? It could be the shocks and their lack of bushings making the noise. Once at higher speeds, there is less "rocking" on them versus stop and go and slower speeds.
But first and foremost, get those brakes checked for safety!!
