I gave it a try. Disclaimer - my recording and playing isn't up to snuff. I just did a little simple playing of a couple bars for each setting:
1 -the 3TS Mustang pickup in standard placement with tone up for comparison
(maybe none of my examples sound like the Mustangs we know and love. Sorry 'bout that) -

They sound better to me while playing them, than they do listening to my recording of them. That's not their fault though.
2 - 3TS Mustang pickup in bridge position with tone down
3 - same with tone up
4 - same but playing over the Mustang pickup in the bridge position
5 - the black Mustang with both pickups and tone down
6 - same with tone up
7 - black Mustang with just the lower two pickup halves - tone up
It sounds like a lot, but the whole thing is just over a minute long. For an extremely rough idea of the variations.
The basses are the ones in this post:
Fender Mustang Club