"What should I do--remove the drum and see what's going on inside--or is there another place to look? I haven't put the car on jackstands yet --maybe that will give me a better view.
The brakes seen completely normal and as high as they always were. "
Whoa.....sounds like operator error to me...
(sorry.....just kidding) ;>)
Yup, get her up in the air and find out what the heck is going on, but before you do, answer Will's questions - Inquiring minds want to know, ya know?.
A wheel cylinder leak will act like that, BUT if it's a drum then that wheel will probably lock up, especially at slower speeds. Sometimes a brake line leak at the fitting will run down the backing plate and onto the lip of the drum and then who knows where?
No matter what, rather than have a bunch of us speculate and generate a school of red herrings, get it up on a lift, poke your nose up there and see just what's going on. It's pretty simple in there, so it's can't be anything too involved.
Then report back!
Oh, and if you want to remove that big, castle nut on the rear axle to get the drum off, put the car on the ground, in gear, with E-brake fully on.
Use a 1/2" drive, 18" bat handle with a 36mm socket. Extend the length of that with a 4-to-six foot long piece of black iron pipe (or galvanized, if you're neat) of sufficient ID to fit over the bat handle.
Ask Gloria to sit in the driver's seat and press the brake pedal as hard as she can. Place the socket/wrench/pipe assembly on the nut at about 9 o'clock and push or stand on the far end. The nut should loosen.
Alternatively, you can use an impact wrench, but that nut's on there at 300+ ft. lbs. so it might be really tight. The 6' pipe should do it, though.
Once the nut is loose you can thank Gloria, release the E-Brake and the drum should come right off (yeah, right....sometimes you have to persuade it a little.....)
gn