[bradpdx]

I changed mine about 1 hour after bringing it home in 1982.

Fender wasn't perfect at every step; the original wiring was based upon assumptions that didn't pan out. He thought that players might want a simulated "bass" sound on the neck pickup, and that this was perhaps more valuable that the 2 pickup combination.

Turns out that very few agreed with that, and the more typical 3-way switch wiring became the de facto norm.

Unless you really like the dark neck PUP setting, you don't lose a thing by changing the wiring. I personally like the middle position (both PUPs) quite a bit, and wouldn't want to live without it.