If I recall correctly the rear drums and front drums have different width shoes...so if you swap drums around from to rear you can get all sorts of fun with different wear patterns. I always use some sand paper on the inside of the drum to try to get them as clean and debris free as possible when I put them back on. I also rub the paper over the shoes themselves.. lightly
The regulator valve is in the line plumbed to the rear from the master cylinder so its one line in, and two lines out split left and right (if that makes sense) so it regulates the pressure to both rear wheels at the same time. I am not aware of any serviceable parts in the limiter valve and thought it just has a spring in it which is unlikely to have broken / failed (Yes they are expensive). I guess in theory with bad fluid maintenance the valve could stick but that should affect both (I would have thought)
I would start by checking the brake hoses.. they can collapse internally and not let the brake fluid retract back up to the master cylinder. I have suffered that a few times on a clutch hose, and you cant tell by looking at the outside of the hose