It's simple... 1 humbucker, 1 volume knob, and thats it. I believe it's the first fender made without a bolt on neck... it's a neck through. It's fast and an incredible action, similar to my charvel spectrum. I guess the thing that sets it apart is the neck through... it enables me to get a low action with incredible sustain. These are pretty rare, they made only a limited amount, i believe in 2003. I bought this off a friend. If you ever see one of these around i suggest you try them out.
Just lookd u some more info for you guys. It was discontinued in 2006 i think. It has mixed reviews, not because it's a bad guitar, every guitar review is great! It's just some people believe it is not a real fender, and don't like it's sound. I tend to agree, but what i was looking for was not a weak single coil sound (they sound great on strats and teles, just wasn't what i was looking for). These pickups are HOT, and have high output, this is uncommon for most fender guitars and sets them apart greatly. I personally love the guitar... it has great chunky leads, and although it only has one pickup and a volume control it is decievingly versatile.