Supernautilus
No way to reply to your PM! For whatever reason, I've got multiple error messages. I'm forced to paste the core of my answer below (fortunately, I had the idea to keep it in a Word doc). Thx for your understanding...
"[...]
A 47nF series cap shouldn't cut much bass, it's true. In mid position, it should make the mid scoop less deep and lower pitched but wider...
I'd share a 5Spice sim if it was possible but the message box doesn't allow me to download pics directly from my computer. :-/
So, all I can say is that a 10nF cap in series with a SM1 + a P.A.F. style humbucker in parallel = a narrow mid scoop @ 630hz. With a 47nF series cap, the same circuit gives a wider scoop, less deep, whose center frequency is 314hz approximatively. The mid scoop might actually be more noticeable in the SECOND case (when I enable the VariTone in my semi-hollow, the greater the value of the cap in series with the choke, the more low mids and bass it cuts).
Now, the result depends on the respective output levels of pickups so I don't know what it would give empirically...
But I don't see no solution to avoid the downsides of series caps in this case.
Side note: I like the SM1 that I've in bridge position of an Epi Wilshire. But it's a pickup with a firm "personality" and I understand which problem you're facing with it. FWIW, I remember to have worked on a Duncan designed mini-hum, mounted in some Squier vintage modified SSH. This mini-hum was not very good : it was probably loaded with a ceramic magnet and tonally generic / bland. But in the mentioned Tele, it was clean and clear sounding, very nice to my ears.
Google "Squier Vintage Modified SSH Tele" if you want to see what I mean.
Hope you'll find a solution. Have a nice day...
FF"