Wow! This is awesome. I can't thank you enough. Just a few quick questions, so I make sure I get this right...
The "output jack tip terminal" is the inside ring on the output jack, correct? And don't I wire the other part to ground? Or no?
Also, what do those two arrows mean? Do I wire those to ground?
Thanks so much.
The tip terminal would be the one that connects to the tip of your guitar cable.
The sleeve does need to be grounded. I usually leave grounding schemes off of my diagrams, because there are several different ways people can do them, depending on the instrument.
If you are mounting everything on a control plate, the jack should already be grounded through the plate. Some people argue over the importance of a soldered connection, so if you want to, you can also run a wire from the sleeve terminal to the third terminal of the volume pot. I don't think it matters though, the ground through the control plate is fine.
The arrows are the standard schematic symbol for a ground. You can connect those two terminals on the rotary switch to any grounded point, such as the back of the pot.