As EauRouge said, the 916 brakes are notoriously crap. The biggest benefit you would get would be to get a good quality set of high performance pads, even with standard discs. Changing the discs to some grooved (NOT drilled) will also give a slight boost but the biggest increase will come from the choice of pad.
Depending on how much extra efficiency you want, I would suggest to take a look at some Pagid street/track pads or Ferodo DS2500's. Both of these options are very much performance oriented and as such can be noisy and dusty not to mention bedding them in properly can be an issue on public roads. They are also relatively pricey compared to other slightly less hardcore options. But if you want some serious improvement, that is where I would look.
Otherwise EBC red-stuff or something similar would be a good option.
Regarding changing the hoses, it should give you slightly better feel, especially when the fluid warms up but not a huge performance bonus. But given that you need to change one anyway, you might as well get some braided hoses. Try contacting Pud here on AO, pretty sure he has some?
Well, I bought some of Autolusso's "special", blue, braided hoses a while back, but they turned out to be a bit disappointing - for me.
Once fitted, I didn't really trust their longevity or, ultimately, safety. They always looked to me to be a bit stressed at the ends, possibly owing to the shortness and their stiffer nature (than rubber types). They also didn't fit them very well, which didn't help...
I've since gone back to standard rubber ones for now. But maybe using longer braided hoses, to delete the non-flexi part near the caliper would work better than the short ones they (and many others I must add...) sell?
I'm sure they'll say that they've not heard of any problems from other customers and I wouldn't want to suggest otherwise.
Basically, I tried 'em, but didn't really like them once fitted. But then I like my cars to be running "right" more than anything - I couldn't care less about the "bling factor"!