Egmond Typhoon Bass / Wiring, Pots,and Switch Problem

I have a new to me, Egmond Typhoon bass guitar. The pickup wiring has a braided wire outside casing for the ground wire with, what looks like a rubber coated, positive wire that runs inside the braided wire. The inner [positive] wire's rubber coating has broken down. I was thinking of just pulling new wire through the braided wire, or should I just replace all wiring ? Also while checking out the electrics, I see the volume and tone pots are 1 meg pots. The pots are not working well, even after several cleanings. Should I replace with 1 meg again, or would 500 ohm pots work as well ? Would changing the value of the pots drastically change the sound. I played the bass after putting on new strings, and it sounds okay on the only pickup working, the bridge pickup. Not all controls are working, but I contribute that to the positive wire's coating crumbling and probably shorting to the ground wire. Also not sure how the top three way rotary switch should be working. With only the bridge pickup working now, the switch in two positions keeps the bridge pickup on, and in the third position everything is dead. My guess is it is a pickup selector, and will work correctly when wiring is fixed ?? Anybody have this bass, and can help sort this out ? Thank you in advance.

 

Hello Blindmouse, Your reply was very helpful. Seeing the schematic, helps me understand the controls and how to wire them properly. Thank you very much for your help. I still need to order 1 meg pots, then I will get the Egmond Typhoon bass put back together.I have a Hagstrom I bass in pieces, getting cleaned up,bits repaired and ready to put back together.The vinyl also needed to be re-glued. The Hagstrom will be first, as it is in it's final stages of completion. I need to learn to tackle one project at a time. I also need a work shop, as the Egmond is spread across the kitchen table, and the Hagstrom is spread across one end of the dining room table. Thank you for your help !

 

Blindmouse, I have another question you might be able to answer. Did all Typhoon bass guitars come with a painted headstock ? My headstock looks like it has glue residue, which led me to believe that it may have been covered with material similar to the pickguard ???

 

Blindmouse, THANK YOU !!! Thanks for all your information. Nice pictures, drool, drool, lust.