series is the most powerful and dark, classic humbucker tone
parallel is the weakest and very bright, a hum-free 'fender' tone
single coil is mid-power and very bright, a more 'authentic fender'
sound but it also has hum which you should be able to hear by
moving the guitar around near the amp.
I believe 'up' is series, middle is SC and down is parallel, but
you'll have to play with it to figure it out.
If you have access to a multimeter, ballpark figures for impedence
measurements would be : series ~7.6 kohms, parallel ~1.9 K and coil
cut ~3.8 k.
Personally I find that anything other than the series setting is too
bright with a 'stock' humbucker. With a 'hot' humbucker, then some
pretty good 'fender' tones are available with this switch. My last
guitar was similar to yours with a hot bridge pickup, I got a
very nice tele sound in the parallel position.
Bob Valentine
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