Find out what "smoked and smelt bad". Shortly after getting my car 3 years ago, I was driving home at night. I thought I felt something funny as I left a traffic light. Several non-stop miles later when I pulled into my driveway, I noticed smoke and smell. The left rear caliper had stuck and when I looked I could easily see the red glow comming off the disc.
If you have burned the disc badly, you will be due for a new one and you should bite the bullet and replace both calipers. As someone else here said, "Starting is important, stopping is essential."
Ray
'68 280SL 4-spd Coupe