Hello!  New to the forum (and motorcycles in general, woohoo!) - I had no luck finding this information with the search feature.

I just bought my first bike (a beautiful '02 savage with 8.5K miles) and while quizzing the old owner, it appears the only thing he has done has been to change the oil regularly, so here I am!  I've been digging around finding great information on what I should do with my new bike maintenance-wise, but I have a few brake questions (and i apologize if they are really stupid questions)

1) So, front brake has two calipers, so there should be two bleeder screws right?  I want to replace with speed bleeders because, to me, the $8 a caliper is worth the small time savings.  I read on the speed bleeder site that a '97 takes an m8-1.25L speed bleeder, but that is the only year with specs.  I've read that most parts are the same throughout the years, but I can't find a spec for the '02.  Does anyone know if this size bleeder will work?  I found some online but they are m8-1.25-24mm and I'm worried they are too short, without knowing exactly how long the m8-1.25L's are supposed to be.  

2) The rear brake wear indicator on my bike, when fully pressing on the rear brake does not even enter into the wear-range.  I assumed this means that the brakes have very little wear at the moment.  If they were worn out, they would pass the range, right?

3) How much brake fluid should I expect to go through in a flush?

4) And finally, I'm a little embarrassed to ask, but do the (rear) drum brakes need to be bleed too?  If so, are there speed bleeders for the rear brake?  Does anyone know the size?

I wouldn't bother with speed bleeders, to much back pressure.
pop the top off, wrap the threads with teflon if you like, a tube into a jar, crack it open, and keep the master full.

About half a small can or less.

the rears take forever to wear out, check when changing out the tire.

Wow, thank you all so much for the quick response!

Verslagen, could you maybe elaborate a bit?  Everything I've read indicates that speed bleeders make it a 5 minute job, instead of 30 minutes (plus the need for an occasional assistant, which I don't have). I'm certainly not questioning your mechanical know-how; I've seen your very informed posts all over the place.  I was just wondering what you meant? Too much back pressure - does that mean I may harm something by trying to use a speed bleeder?  

Well Serowbot, I will certainly try to avoid that!  

One thing ya dont wanna allow to happen is, empty that master cylinder.
Its a booger to get the fluid to go down thru that Tiny little hole & fill the void that makes the pump. Time isnt that precious. Gravity IS your friend,, & spending $$$ to accomplish such an easy task isnt necessary.
I have a vac system Ive built, using a nebulizer for asthmatics. Just hook the compressor intake to the bleeder with a quart jar in between. Set it up like a water pipe, copper tubing soldered into holes in the jar lid. Vacuum builds in the jar & sux on the bleeder, fluid falls in the jar. BUt the 650 doesnt require such a setup.. I use it on automotive stuff..

The EZE Bleeder shown below pushes the fluid in the direction the bubbles want to flow, so it has a better chance of getting all the air out of the system.  It moves the old fluid (and any air bubbles) from the caliper up to the master cylinder.  During a brake bleeding session, you have to empty the fluid out of the reservoir a few times to keep it from overflowing.  

The standard method we all grew up with attempts to force any air bubbles down through the caliper.