DIGDEEZ,
Here are a couple of thoughts for you.
1. Engine braking will slow the car by using the engine compression. So, when you let off of the throttle you should get a gradual slowing of the vehicle. This is more pronounced if you downshift.
2. If the emergency brake cables are not fully releasing there will be a drag on the rear wheels, and the slowing of the vehicle.
3. You could have one or more pistons hanging up in the caliper and thus not releasing the brake pressure on the disk pad(s).
4. The brake fluid in the resevoir is allowed to return to the resevoir, when you let off of the brake pedal, via a small hole in the master cylinder. If this hole becomes plugged with crap the pressure on the brakes is not fully released, which could also slow you down due to the "drag" on the brake disks.
Given the fact that you have an eleven year old car, in a "rust belt area", any of these are possibilities! Food for thought, rangerj
PS have a cold Old Style! I really miss Marshall Fields and Bergoeff's.