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If its got drums its not a boss they all came with disc brakes.But yeah i would spend the money and change it over to disc.Take a look at http://www.chockostangclassicmustang.com/home.html hes a member on here and great customer service.
So I have a 1970 Boss that i want to restore. Im starting with the break system should i go with a new disc break system or the original.
The BOSS had an excellent disc brake system from the factory, far better than anything you'd need for street use.
Frankly, I'd wonder why anyone would modify a BOSS. Stone-stock they were practically race-ready.
Unless you are actually racing the car, you'd be better off protecting your investment by keeping it stock. Any G, Z, or 71 R code Mustang (or for that matter, the nearly unknown 72 R code) is worth so much more than any other comparable same-year Mustang that you's be much better off racing a base model with upgrades.