With 4 wiring you can electrically change the phase of one pickup, but with the PG Blues the only time the out of phase is noticable is when you use both pickups together.
With 4-conductor wiring you can put one pickup's coils out of phase with each other, but that's a different thing (and sounds horrible).
But you can also swap the connections for one of the two pickups (i.e. black to hot, red to ground) and that will put the pickups out of phase with each other. Again, that would only produce a noticeable effect with both pickups on. I think I've read that this is somehow different from physically reversing the magnet in the pickup, but I'm not sure why.
I didn't think it would make any difference which way round the pickup was oriented in the mounting ring, but I'm probably wrong.
Hi Dr. X :)
I agree with the above observations and will add just a little more about my perceptions of the difference between magnetic or wiring methods of achieving the out of phase effect as I have experienced it.
I have wired a pair of Mules in a Les Paul as Philly said - and I get the 'Peter Green' effect when both pickups are on together. To answer your question about the volume controls, YES - the settings of the volume controls will exagerate or minimise how much the pickups will cancel each other out. Manipulating the volume controls, and to a lesser degree the tone controls will dial in and out the degree of not only the effect - but the softness / brightness of the sound . It may seem obvious of me to say that the tone controls control the 'softness' - but when you have the weaker sounding 'nasal' tone engaged - every nuance is noticable.
I once did the magnet mod on my stock Les Paul bridge pickup - and the effect is similar - but less dramatic / noticeable when used in tandem with a non modded pickup.
I also did not need to turn the pickup so the pole peices where in the 'wrong' direction to make this work. Perhaps it might shape the tone due to the pole pieces at a different part of the string's oscillation ?
There is a lovely ( and very authentic ) demonstration somewhere in the 'Players' section of this forum - from a guy that just did the wiring mod to a pair of standard Stormy Mondays on his S.G.
I of course would be willing to be corrected by Tim on this one, but have found that 'standard' Stormy Mondays or Mules responded well to just changing the connections on the B.K.P. 4 conductor wiring in the control cavivty.
You raise a very interesting question Dr. X - and ( as a Peter Green affectionado ) I will follow this thread with interest.