Is the title "American Series" a legality loophole, kinda like calling Asian-made EMG's "Selects"..or how some companies call their cheaper line the "Pro Series"? I have a feeling those 2001-2007 Fender's were named differently for a contractional reason. "American Series" seems like a production instrument that's supposed to resemble the U.S. made Fender. They kinda felt and played that way too IMO.
I don't think so. I am 99% sure that the American Series was just a rebranding of the American Standards that coincided with a few design tweaks. (The body edges were more rounded and the edges of the fingerboard were rolled? And the S-1 switch comes from this era?) A few years down the road and a few more design tweaks later, they were renamed back to American Standard. FWIW, my general impression of early 2000 MIA Fenders isn't good. I think Fender American Standards from the mid to late 90's were great (I have a 96, 97 and 98 right now), but I've played a couple 03's that I thought were a big step down. And, of course, the general consensus is that the newer American Standards are a step up in quality, so I would say that, on the average, the "American Series" is one of the low points in Fender's quality. All IMO - I don't mean to upset anyone that has an American Series bass that they love; I'm sure there are some great ones out there.