Perhaps the question be of, what wud be a fender classic tone?
The configuration in it is wired like a strat. The guitar still sound like how a single coil sounds like, the 2 and 4th postition still have that quack character like a strat. I have the lowest of the range version of that guitar, perhaps it doesnt sound like strat to some(purist?), but the single coil character is all in there...
the 3 way switch look alike is actually a 2 way switch that bypass the one and only volume knob on the guitar, enabling the sound to go straight to output, without the pot in between.