It all depends on what you expect and what you're willing to trade off.
Assuming you don't want to do the upgrade just to get 5-lug wheels:
GM was confident enough in their brakes that they shipped factory V8 Monzas with the stock brakes. Lots of guys here still have original brakes with their V8 cars. If those are good enough for you, stick with them.
They'll probably be fine for normal street cruising and some passes down the drag strip. They won't feel like a modern braking system, and they won't stop as short, but they will be good enough.
If you do a lot of heavy braking (driving like a maniac
), expect the stock brakes to overheat, fade, and possibly warp. Then you'll be scrambling to find stock Monza replacement parts.
If you do any road course racing or even non-competitive track days / racing schools, the stock brakes will die, and even the S-10 brakes won't hold up. This is true for most stock brakes except maybe those on the Corvette Z06, BMW M3, etc.
Having the S-10 spindles makes it a lot easier to get better brakes, but with the geometry trade offs.
For me, personally, I mainly wanted the 5-lug wheels. Also, my Monza currently has a braking system almost identical to that in my S-10 (except no ABS), and I know that the braking system holds up -- just barely -- in the heavier S-10, so it should be fairly good for the Monza.