#2
'pot' is short for potentiometer they're variable resistance devices that change resistance values as you turn them, 250k means it has a max value of 250 Kohms and same for 500K the bigger the amount of ohms (or resistance) the greater the range or "sensitivity
#3
^ He's right. Generally, 250's are warmer, because they cut more treble. 500's are brighter. Traditionally, 250's are paired with singles, and 500's are paired with 'buckers.
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#4
500s also allow more retention of clarity as you roll the tone knob back.
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