Yeah, that's a pretty severe dropoff. But, you also have to consider that some meters respond differently to the loads you present to them. If you've ever done any shopping for meters, you've seen that there's some pretty wide differences in price. A Fluke meter is one thing, while a Tripplet or a Mastech is something else. A decent Fluke will cost upwards of $300, while the others can be had in the $25 range.
There's a reason for that. Some circuits are purely resistive and as such are much easier to measure. Others have a reactive component due to the inductors or capacitors involved, and they don't respond the same way. So, it's tough to get a reading that means anything.
The reason I bring that up is because as dramatic as the readings you're getting are, they don't really sound like failed parts. Pots generally open, so you'd see infinite resistance at some point unless you were also seeing something in parallel, which is also possible in a guitar circuit. But, once you opened the pot, you'd see the resistance of the part in parallel, and the numbers you're giving don't match up to anything that makes sense. Although, if you have a 150 ohm resistor in your treble bleed circuit, I'd have to question what's going on there. That would be
very small. You might want to review the discussion on treble bleed circuits
here.
