On the TR3, that big lever and it's position gives you plenty of force, you can get all the braking that the rear wheels are capable of. And the car is pretty well balanced front/rear, so I'd call it perhaps 40% of a fully working system.
The Stag is more nose-heavy, and has a shorter handbrake lever in an awkward position (at least for me), so I couldn't lock the rear wheels even with the brakes cold. I'd guess perhaps 25% of a fully working system (which is still a lot better than the Audi 100LS I used to own).
Of course, how quickly they fade depends a lot on shoe material and condition; it's quite possible that the rear shoes had been contaminated or something. I changed them the first chance I got, for 'Kevlar' material that should be much more resistant to fade. The Stag is also quite a bit heavier than even a TR6, which of course puts more load (and heat) into the brakes for the same stop.
And just for clarity, I had used the handbrake several times before taking the exit ramp. A saner driver probably would have also slowed down, but I was reluctant to drive much slower than traffic, so I was probably still doing 60 when I yanked the brake for the steep downhill ramp. I never said I was smart!