Cooter - Thanks, and I hope you can uncover that original finish! Take it nice and slow!!
Stewart - I'm with you. It has been pretty commonly "understood" that even though Jaguars and Jazzmasters were "the" top of the line model of their day, the Strats of the same years wipe the floor with them in terms of being collectible and valuable. Yet, for some reason, the "trim level" of "student model" maintains its stigma!
What is the big quality difference between a Jaguar and a Mustang other than body shape and a couple of extra switches? The neck is exactly the same... The other differences fall under the category of personal preference to me.
And, I'll take a student model from the 60s over a budget model of the 2000's. The old student models are American made - by the same guys who made the "holy grail" instruments, using the same or similar materials and finishes... and they cost peanuts in comparison to Strats or Teles. Fine by me! "Squiers" are decent guitars, but they're a far cry from the quality of the student models of long ago.
And... I DO have some "real" Fenders floating around here as well!
Regardless, I think that the Red '64/66 Parts-MusicMaster is my favorite of them all. Even the '65 Jaguar doesn't do it for me like the red MM - "pro" model or not!
Quick! Someone scold me about the Buzz Stop!

Perhaps if I set it up "right" with 13 gauge Flatwinds I wouldn't need it!
(I love that Buzz Stop.....)