Nothing great about coil splitting. You need a humbucker with 4 wires, two per coil. Instead of connecting the two coils in series (which makes it a regular humbucker), you simply use one coil and ignore the other. Technically it should sound like single coil pickups, but in practice most coil splits I've heard, sound a little thinner. About what you'd hear from a stock strat pickup. Definitely softer than texas specials or lace sensors.
Edit: I'd try coil splitting on a fender. A Les Paul is made for humbuckers with distortion.