Well, there are a few two-pickup combination tones that are hard to make out (neck in series + bridge in parallel, etc.), but I was really surprised at how many distinct options I have. When only one HB is selected, or when both HBs are on the same setting, the tonal differences are very clear.
Since I had to change the wiring, I haven't tallied the total number of tones. The HBs run parallel to each other (I could easily replace the volume pot with a push/pull pot to toggle between HBs in series/parallel). I can select neck HB, neck + bridge HBs, or bridge HB. Each HB has its own tone control and the following settings:
1) Coils in series in-phase
2) Coils in series out-of-phase
3) Coils in parallel in-phase
4) Coils in parallel out-of-phase
5) Coil cut
Turns out my camera lens is still alive; only the display is broken, so I can still set up pics with the viewfinder. Here's a stock photo of what the guitar looked like before:
And here is the after:
The wiring nightmare: