+1 albertaduke.
85% of the brake force comes in the front (notice there are TWO disk brakes up there?). The weight shift goes forward even when you mash on the rear brake (and why it will easily break traction because there's little weight on it) so you get front end dive even applying ONLY the rear brake. That's why the front is your braking friend, as you brake hard the front gets more traction, the harder you brake the more traction available. Ever seen a STOPEE? Can't do that if the traction (friction) isn't there. If you have seen a stopee, ask yourself how effective the rear wheel brake is during that maneuver.
My rear pads are showing minimal wear after 40,000 miles, they are what came with the bike new. The fronts have been replaced twice. I may replace the rear pads due to age because pads can seperate from the backing plate, but I don't think I'll ever wear them out.
As to the lost braking, that's fresh. Keep us posted on what you find.