I think we should add brake fade it will make it more realistic. For people who don't know what brake fade is. It happens when you use the brake too much and they overheat and don't work as good, at wost it won't do anything at all. Hes a video of a guy experiencing brake fading.
Interesting idea, definitely would take up some time if it would become a feature, so it wouldn't be included for a long time I'm guessing. I could see brake wear and tear being something that could also be adjusted by using a vehicle with heavy duty brakes, sport/racing brakes, etc. My only thing with this is that I don't usually drive long enough for this to take place before I hit a wall or manage to flip my car (although, if I try, maybe I can stay on the road long enough).
I'm sure the devs will do this when they have the time, but I'd say it's a while down the road. And it's not that difficult to get your breaks to fade. All you gotta do is slam on the breaks at like sixty and get em real warm.