  We present 0.9-2.5um spectroscopy with R~800 and 1.12-1.22um spectroscopy
with R~5800 for the M dwarfs Gl 229A and LHS 102A, and for the L dwarf LHS
102B. We also report IZJHKL' photometry for both components of the LHS 102
system, and L' photometry for Gl 229A. The data are combined with previously
published spectroscopy and photometry to produce flux distributions for each
component of the kinematically old disk M/L-dwarf binary system LHS 102 and the
kinematically young disk M/T-dwarf binary system Gliese 229. The data are
analyzed using synthetic spectra generated by the latest "AMES-dusty" and
"AMES-cond" models by Allard & Hauschildt. Although the models are not able to
reproduce the overall slope of the infrared flux distribution of the L dwarf,
most likely due to the treatment of dust in the photosphere, the data for the M
dwarfs and the T dwarf are well matched. We find that the Gl 229 system is
metal-poor despite having kinematics of the young disk, and that the LHS 102
system has solar metallicity. The observed luminosities and derived
temperatures and gravities are consistent with evolutionary model predictions
if the Gl 229 system is very young (age ~30 Myr) with masses (A,B) of
(0.38,>0.007)M(sun), and the LHS 102 system is older, aged 1-10 Gyr with masses
(A,B) of (0.19,0.07)M(sun).
