http://shbox.com/1/adjparkingbrake.jpg
i would be weary of that electrical smell. if it is only smelt inside the car, i would do my best to isolate it and correct it. if its outside, possibly your parking brake is hanging up now and you are smelling really hot brakes.
give your rear brakes a good look too, see if they aren't worn out funny.
hope this helps some.