Hey, there are plenty of wiring diagrams around to show how it's done. I've never quite worked out why modern wiring is standard (I guess if you can't do independent controls on the middle setting, but I've never head that before. Clapton relied on that middle setting, and I assume his wiring was stock '50s on the bluesbreakers record). Apparently you get more wood in the tone, better use of your volume and tone pots. For me, that's the sound of the guitars I like (Page/Clapton/Green/Taylor), so I intend to do it to both of my Les Pauls (I'm not sure if I'd have to change pots on the Gibson though).
So that should answer another of your questions, Tokais and even, correct me if I'm wrong, Gibson historics, come wired modern. Apparently '50s wiring is something you either love or hate.
My Tokai LS150 has 500k CTS pots which are apparently good to go as I understand it. So I'll definitely rewire that '50s. The Gibson may not have such good pots and I'll have to see if that's an issue.
Maybe Reinhard could weigh in on any differences in tone, and the electronic requirements?
These are from mylespaulforum, and I'm sure there's plenty more on the subject over there.