Ok, I see what you mean now. I think a 4 way for those configurations is better than the 3 way and S1.
Not that I'm against the S1 I think it's quite a good idea, the Baja tele uses one plus a 4 way, some like it some prefer more straight forward.
I almost bought a red tele body similar to the one you have a while back but someone bought it before I got to it. Some nice flame in that neck too. What does it look like from the back ?