Is that a disc brake setup. Like a car? Brakes have come a long way from my days? How much would those cost? And when did this system come out?
Yes, exactly like a car. Well-proven technology that is minituarized for bicycles now
This is actually a more exclusive model also with 4 pistons. Often they are just with 2 pistons. Either mineral oil or DOT fluid (like cars). But I prefer the oil ones, like these. Easier to maintain. They came long ago, I think it was like the 90's for MTB's at least. It was just a few years ago they came standard on road bikes. It works really great, all year around. And very easy to maintain. No adjusting, they are self-adjustable. You might wanna bleed them after a few years if they start to work bad. And of course, replace brake pads when worn out.
Not expensive either, this is a middle-model, good, but not best, and definately not worst: DEORE BR-M6120 Disc Brake Set