| Yup.
However, if you miss out the tone pot entirely, you'll have a bass that's brighter sounding than with the tone wide open. You could compensate for this by replacing the pot with a resistor (matching the value of the pot) and using the cap you already have. That way you'll get the same (small) amount of bleed that you get with the tone control all the way "on".
As you'll have another hole in the bass, you could always try a series/parallel switch (just a suggestion).
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EB Musicman/Ibanez/Ampeg/Peavey/Marshall/Tech 21
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