From my experience I think you'll find that shielding will alleviate some but not all of the hum.
Agreed.
You can knock more of the buzz out of the picture by running a ground wire to the strings from the jack, but the selects wish uses are inherently pretty noisy.
also, I just pulled the trigger on the bubinga fantasy! Fought it for a few days, but better judgment lost out in the end. One of the reasons was that it already had the KA humbucker installed. Fingers crossed that that will alleviate some of the poor s/n ratio of having a single coil pickup very close to the bridge.