Update on the caliper rebuild project:

Success! My suspicion that one or more caliper pistons were dragging/not pulling back seems to be true. Ever since the rebuild (rebuild kit from racingbrake dot com), braking performance is exceptional. Better than it has ever been to be honest. Not sure how long my braking system has been compromised since it likely got worse (gradually) over time. It got it be point where pads would overheat after a couple of hard stops. After that, I would have to stand on the pedal to get any decent braking force. Until now I’ve tried bleeding the system and changing out brake pads to no success. I was leaning towards the CCM rotors needing to be replaced ($$$). So glad I gave a full caliper rebuild rebuild a try before making that sizable investment only to find out the problem persisted.