I had a brake pad fall off of an 83 Tercel once... it was very interesting driving home while it was "falling" out.

Made quite a bit of racket until it totally fell out, then the piston fell out w/all the fluid going with it (like mentioned). Junked it after that.

Goin' Round Traffic Circles @ 50Km/h!!! \m/ -- 1998 E0 SVT #2119 of 6535 \m/ -- 2003 Sentra SE-R Spec V