It may not be perfect in you're eyes, but jeez, you gotta be happy with that Jon! Mirror finish is the only way to describe that!

I haven't done the PTB on a 4-knobber, but I have it on 3 out of 4 strats and can definitely say I prefer it to the standard tone circuit.
The one 4-knob 2-HB guitar I have (my PBG PRS-1TS) I have just done a bass cut for the neck pickup. I find that really useful as well, and prefer that to the standard method.
If you're looking to do something a bit different electronically, I would recommend trying the PTB.