Finally had a chance to read the entire thread that Lyle started. Being that the bottom-line consensus is that all we are accomplishing with his mods is to give more useable range to the EQ, trim a little fat off the bass frequencies, and unleash a slight bit more gain, I figured I'd set out to make a change or two at a time. I mean, what the heck, I reckon it's easier for me to mod this thing than one of Marshall's PCBs, right?

Here's what I came up with:
1) Changed input (R20) to 1M, no RF blocking cap.
2) Installed a switch to toggle between (C8) .68uF and 4.7uF cathode cap biased with 1.8K (R18) - much better with the .68uF, and the switch gives the option to fatten it back up a little.
3) Changed 220K (R7) to 470K, removed .022 (C13) on vol wiper, and removed 1M (R9) voltage divider. (No real noticeable difference that I could tell after making this change.)
4) Added 120pF bright cap to volume pot (I may remove this later - I find that upper ranges of the treble pot is just too spiky with the tele, but haven't tried humbuckers with it yet, so the jury's out on this)
5) In tonestack changed slope resistor (R28) to 47K and changed .047 (C20) to .022 (now this REALLY helped bring out a wider range on the tonestack and may be all that's necessary for someone to do to their Marshall 5.)
6) 68pF fizz cap across 470K (R26) at EL84 grid.
Before I made these changes, I did have a chance to record with it. I got some really nice tracks with a moderately crunchy rock tone, so I'll do some more recording with it hopefully today or tomorrow and see how these tracks sit together.