changing from a 1 meg vol pot to a lower value (500, 250k) has the same effect as taking your 1 meg vol pot and turning it down (you are reducing the resistance as you turn it down). it's a clearly audible difference. you lose some volume and some highs.
If you find a demo of the Jazzmaster or Jaguar rhythm circuit and compare it to the lead circuit you'll hear the difference that is caused by pot values. If you can't hear the difference then you might want to consider getting your hearing checked.
That's the difference between a 1meg tone pot and a 50K tone pot.
It is very obvious. It's not the same as 500K vs. 1meg, which is more subtle, and if it's just a sub of the volume pot alone from 500K to 1meg, it's subtler still.
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Well i'm still struggling to find out where this loose wire connects to - there's a thicker black wire connected to the tone pot nearer the jack socket in the pic which goes through the body and touches the underside of the bridge.
The loose wire is much thinner than the other black ground and comes off the volume pot,
Any more suggestions guys?