Just thought id update this thread with some more photos
Here are the new electronics installed (new 500K pots and i took apart the 5 way switch and cleaned it out)
The backplate for the electronics already had an aluminum covering, so i just needed to cover the trem backplate. A glue stick and some heavy duty aluminum foil did the trick!
Everything soldered together (the ground wires show in the pic below are incorrect, i thought you were supposed to ground to the wall but realize now that it goes straight to the output jack)

*forgot to mention that i did not wire the tone pot, i wanted to hear how it sounds, hard to say but i think it sounds brighter.