Jay,
Typically very old flex lines do cause problems. But as you might have read, it could also be your calipers. Of course you would want to put new flex lines but if you want to confirm its only the line, you can. When you know the caliper is binding, you would try and turn the rotor by hand to make sure it's binding. Then release brake fluid from that caliper via the bleed nipple. Once some pressure is out the rotor should not bind if the problem is only the flex line. If it still binds, the problem is more than just the flex line.