I've been too embarrassed to ask this, but what's the point of the switch if there's only one pickup? What exactly is the effect of it?

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1984 Squier Contemporary Stratocaster
1986 Peavey Envoy 110
1967 Kingston Acoustic

Position one is with an extra cap to give a bassy sound. Great with over the top fuzzes.

Position two is normal volume and tone.

Position three is no tone. Great for a leads.

At least that's how I had mine setup.

Oh, I just thought it was a normal switch.

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1984 Squier Contemporary Stratocaster
1986 Peavey Envoy 110
1967 Kingston Acoustic

I did the "Eldred Mod" to position 1 on mine. Much more usable.

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Bill

So basically, the switch is wired with caps to provide different base tones, which are fine tuned with the knobs?

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1984 Squier Contemporary Stratocaster
1986 Peavey Envoy 110
1967 Kingston Acoustic

They can be wired all kinds of ways. Some positions can retain the tone and volume, or they can bypass one or both of them them completely.

I've seen one wired with a strat switch to do a Gibson varitone type thing, I've seen 'em where one position takes the volume and tone out. I've seen 'em with one position being off so you can turn off the guitar or toggle between it another position to get the stutter effect. The Eldred mod is a good one also.