Originally Posted by cimplexsound
I have also smoked the brakes. Just got to let it sit and cool for about 20 minutes and your brakes will work just fine again. You shouldn't worry to much about your rotors if this is the first you overheated the brakes. But don't make a repeat habit or it could warp your rotors.
Heating brakes up is one thing, but the OP also reported a gear lube smell and a soft pedal well after his brakes had cooled. As I suggested, pulling wheels and checking bearings, and a complete flush of the old brake fluid would be the minimum I'd do after such an experience.