Early eighties advertisement for the Fender Lead III. This guitar was Fender's attempt to produce a guitar with the best of both Gibson and Fender features: primarily it was fitted with two Seth Lover designed coil-tapable pickups. The switching allowed seven distinct tones, "from the renowned Fender single coil sound, to a fat, humbucking sound with incredible sustain". The advertisement features Dixie Dregs (latterly Deep Purple)guitarist Steve Morse
Interestingly, at the same time Gibson were trying much the same thing; their result being the Gibson Victory MV2 and MVX guitars.