"Wet or dry brakes?" Not sure. It has better brakes than any of my previous tractors, but that's all I know. I don't know how to tell the difference.
"Power steering?" No
I have owned several tractors, both high and low hours. I don't think it has been "re-conditioned" because all the labels and decals are in Japanese. I would be surprised if the people who recondition them had access to replacement Yanmar factory labels in Japanese. It does have the wear and tear I would expect of a tractor that had been used for years, but well maintained and kept out of the weather.
Whatever it's history, I am well pleased with it. I think I got it at a very fair price, and it should last me for a long time. Tomorrow I am going to order an operator's manual and a parts manual, along with an over-running clutch and an $800 ROPS system. I plan to keep it for a long time.