The EMG-SPC goes from flat to a wide midrange boost. The EMG-EXG goes from flat to simultaneously boosting bass and treble and cutting midrange. There's a PDF on EMG's site that shows the response curves.
Anyway, this got me to thinking, most of the time I want to fiddle with knobs, I'm thinking either:
- Needs more/less treble/bass.
- Needs more/less midrange.
The Big Muff tone stack (see Duncans TSC) can do the bass/treble balance thing, but has a big midrange dip. I'm sure you could play with component values to get the dip to be similar to whatever tone stack you are replacing. Then something like the EMG-EXG could vary the amount of dip (perhaps with something active you could even have a boost).
As others have pointed out, the main two reasons for touching the tone controls are either to adjust the amp for a different guitar, or to adjust the amp for a particular room.
You could have two jacks labeled "Humbucker" and "Single Coil" but then you'd just confuse the guys with HSS Strats.