Are you thinking separate volume controls to go along with the switching, or just one master volume? I was going to stay entirely clear of single coils because of hum, but I like where this is going. I also like to play with favoring one pickup or another slightly, so I might be looking at some hum, but it could be worth it. If you're willing to put up with the hum of just playing one coil, you could have even more options with a 5-way, Strat-style switch, or a combination of switches.
Based on the Pope and W&T vids, I think even a route that allowed half-an-inch of adjustment would make a significant difference! If you figure out a way to do it as slickly as they do, let me know!
There's still the issue of all that magnetic pull... but maybe it wouldn't be a problem.