I've been babysitting a neighbors American Strat for quite a while, but since I don't want to leave the house with it, I focus on playing my own guitars(LP clone and 335 clone, both dual hb gits).

Recently I pulled it out to put an amp I got through it's paces, and found I loved the sounds I can get with it, and the comfort of the body.

I know nothing about the guitar...pickups, knobs etc.

Here's what I know:
USA made '97
3 unmarked single coils (not lace sensors)
5 position selector
1 volume, 2 tone
Rosewood fretboard
Standard Trem bridge.

I may make a pitch to buy it, but Don't know what I've got here, really. Seems like a fine guitar, hardly touched, still has plastic around the screws on the pickguard. The lowest tone knobs spins uselessly, but its simply a stripped knob, removing it, the pot works fine.

How do you you utilize the two tone knobs?

A quick overview would be great!