I'm replacing the pickups on my Ibanez S7420 and can't really follow the instructions with the pickups. I've included a picture below to show the old wiring and I'm just after some advice on which wires to solder where.
Here is the pic:

I've pointed out the old red and white wires on the 5-way switch where I removed the old pickup, there was also a braided bare metal wire connected to the volume pot that I'm guessing was the ground.
On my painkiller I have the red wire, green and white (soldered together and insulated), black wire, and bare metal wire.
The way I was going to wire it up was like so:
Old wires - New Wires
Red - Red
White - Black
Braided wire - Bare metal wire (Ground)
Green & White - Disconnected
Any help would be greatly appreciated!!