I have a 92 with 4 wheel discs. The parking brake is stiff (the handle comes up about 3 inches) but the car still rolls on a small incline very easy. On the road, I really have to my foot into the pedal to get it to stop. The first 2-3 inches of depressing the pedal, there is no stopping power at all.
Every other car I have driven (including GM) just a tap of the brakes begins to slow the car down. Maybe its possible that its because they have hydroboost?
If the camaros are supposed to have this amount of distance in the pedal then Ill ignore it.

 

A bit more info about the history of the car and the conditions if the braking system would be helpful.

The brakes should start doing something as soon as you start depressing the pedal, so you definitely have a problem

 

I cant give a whole lot more on the car because I just bought it. There is no brake squeal, is about all else I can think of. Once my jacks get here, ill be able to get it lifted, tires off, and examine further (and take pics if needed).
Lets just say that its almost physically impossible to hold the brake pedal down hard enough to keep the car from moving forward when the motor is still warming up. Once it goes into closed loop and RPMS come down, I can finally shift into gear and start moving.

 

check your brake pads....if they're worn out the braking force is greater, and the pedal travel is increased. with new pads the caliper piston doesn't have to move nearly as far before it makes contact with the disc. the brand of pads can be suspect as well, I just bought new brake pads for my 06 kia from O'reilys and the pads are terrible...I think they are too hard so that they last for a long time, but the pedal effort required to stop is way to high in my opinion. I'm going to to change to a softer more OEM type of pad asap.
hopefully that helps...

 

My 89 Iroc does not really have anything special in brakes but they do work. yours sound as if they are not working.

It's more than likly you need to replace a lot of old parts. hoses, calipers, rotors pads and fluid would be a good start. Dan

 

I finally have the car lifted and im looking for anything obvious. The fluid is nasty, so that has been flushed.
Id like to take this step by step since I have no experience with brakes. Looking at the rears right now, the pads are thick and right up against the rotors. But even on a slight incline, the parking brake cant hold it.
The calipers say made in australia, PBR. I dont see a brand on the rotors or pads.
Also, the brake lines (at least from what I can see) are braided.