I have owned a 2001 Disco for 3 years. About 6 months after purchasing, the abs, hill decent, and TC lights came on. Took it to the dealer, they replaced a abs sensor. 6 months later happened again. They replaced another abs sensor. This has happened every 6-8 months or so. All 4 sensors have been replaced, then they said the brakes are causing the problem and need replaced. I purchased the EBC performance brake kit from online, which includes pads and drilled rotors. Lights were still on so I took it back to the dealer. They said the EBC brakes are causing the lights to come on. That I must use factory parts to prevent problems. Before I spend another 300-500 on new parts (again), is there anything else I can check? Oh, the lights are on all the time. Once in a while when I first start the truck, only the abs light is on. As soon as I start moving forward, all 3 lights come on.

Another thing I noticed with the brakes, more noticable before I changed them, is when applying the brakes at first they don't seem to work well. If I let up on the pedal and press down again with the same amount of pressure as before, it would practically throw me forward. After chaning the brakes and flushing out the fluid it does not seem to do it as bad. The dealer said this is normal and can't do anything for this either.

 

I'm having the exact same problem except mine just came on about 2 weeks ago.
Good luck and hope someone helps!

 

Many of us run some type of performace brakes, it mostly seems to be important that they be high quality parts (not some discount pads/discs) and don't run them down to the rivets. I had problems when my Kevlar pads ran pretty low with my DBA slotted/drilled discs, but changing the pads fixed the issue. Others on this site have said that worn hub bearings can contribute to these lights coming on. BTW: by reading the code you should be able to tell exactly which wheel is the issue.

As far as the pedal feel goes, that does seem to be common. Fresh fluid and a thorough bleeding minimizes it. I got some further reduction by putting in braided steel brake lines, but that was a big job, and I still have some of the spongy feel on the initial press.