I used shielded two conductor wiring for the pickups. It took me 3 hours to take the guitar apart, rewire the pickups, rewire the guitar, put the guitar together and put all the tools and solder up & test it out.
It would be
VERY easy to make a mistake and mess up a pickup with the super thin wiring used in the pickup winding. I kept wondering if I was gonna completely end up ruining a pickup.
Fortunately, I didn't mess anything up.

YES, the guitar is quieter. The neck and bridge pickup are maybe 25 to 33% quieter? The reverse middle pickup now has less then half the previous noise, maybe 25% the previous noise. The 2 & 4 positions are totally dead quiet. Super quiet. Easy as quiet as any of my humbucking guitars. The middle position is significantly quieter then the neck and bridge. It's almost humbucking quiet but not there as it still has some slight single coil noise. But you almost have to listen for it to notice it.
Previously, the noise in positions neck, middle and bridge were about equally single coil pickup noisey. And despite the middle pickup being reverse would, positions 2 & 4 were still putting out more noise then humbuckers prior to this shielded wiring.
So, I feel like it actually made a worth while and significant difference in positions 2,3 & 4. And made a somewhat noticeable difference in positions 1 & 5. Referring to the 5-way switch.
There is no way that I think someone could hear the single coil noise while playing the guitar at any volume low or cranked.
Yes, I would do this again IF I had another set of single coils without shielded wiring. I should note that the pickup windings were already wrapped with copper foil that was grounded to add shielding there. And the cavity of the guitar was totally shielded with copper tape already also.
With respect, Jeff