BB, The wooshing sound will be the fluid (more likely to be gas than oil; oil shocks haven't been used since early 90s aka my Corrado!) moving between the valves inside the shock absorber and are not necessarily a sign that they have failed. It will be hard for you to identify the problem as you have already confessed that you don't really know what you're looking for, and in that respect it is very daunting asking on a forum and expecting to be able to follow people's responses. I will try to make a few pointers.
- Night Train summed up suspension very well on page 2, I can't reword that any better!
- As said, the suspension bushes could be gone. Bushes are cheap but hard to replace as they are all inbetween bolts and chassis parts absorbing the minor vibrations and movements of the mechanical parts. You will also have to contend with old or rusty bolts which is where the labour can add up unfortunately. If the car feels vague under steering then it's most likely the front bushes, if it feels vague when accelerating it's more likely the rears.
- a car braking heavier in one direction is not an automatic symptom of a seized caliper (sorry sheddy!). Tyre pressures, wheel alignment and tracking can all come into it, plus the brake caliper is on two floating guide pins. These have rubber bellows round them to keep grit out and grease in but sometimes grit does get in and they can stop sliding about properly which tends to keep the brake pads in contact when you're not on the brake pedal - it's just something that wears out i'm afraid.
Hope that's a little bit more informative! If you're anywhere near Oxford, I'd be happy to have a look a the car for you.
Jon.