2000 Blazer - Error Code #265

The Dash warning lights on for the ABS and the Parking Brake.
The Brakes work fine (pads and rotors were all replaced after these lights came on) and the car stops on a dime, but I wonder if there is something wrong that I cannot detect, or that this error code (#265 EBCM Circuit Retag) )that my mechanic picked up off the cars computer has something to do with these warning lights.
Any ideas on this?

Check the ABS fuse in the underhood electrical center.
What has happened is the ABS module has seen a low feedback voltage from when it commanded the ABS relay on.
The ABS system is turned off right now. The reason for the fault must be diagnosed and repaired then the lights will turn off and ABS function will resume as normal.
I would recommend having the dealer look at this one.

I'd like to know whether an ABS and parking brake light which go on and stay on simultaneously signal some failure or potential for very serious problem with the regular brakes,,,,
or whether it is just an issue with the ABS, which is a nice feature, but not a necessity for the time being.
If it's the latter, I may address this problem at my leisure, where I can install a new ABS unit myself or find the right fix, whatever it is.

On the other hand, the lack of knowledge whilst going in to any dealer for service tends to make one feel like the large "D" in "Dummy lights."

I don't want to get charged a thousand bucks for something minor needed to turn off a dash warning light. Know what I mean?
i just spent good money for all Bosch rotors and Bosch ceramic brake pads so I want to finish this brake light/ABS problem.

When the ABS module sees a fault it turns off the ABS system and turns on both the yellow ABS light and the red BRAKE light.
The "default" mode is base braking, so there should be no problem driving or stopping if the base brake system is working properly.