incorrect, les paul 100's are bassically les paul standards but without set neck, binding, good hardware but yes they are much more expensive.
they are wired exactly the same. you may be thinking of the les paul special in which they have 2 pots and a selector switch which makes them different yes.
you should sand just below the fretboard and everywhere else (bar the headstock), i assume you are trying to make you guitar look like the les paul smartwood guitar judging by the picture on your hosting site.
read some of the tutorials on the main site regarding stripping paint via sanding.
good luck