On a volume control, you are correct. On a tone pot, not so much.
A tone control only uses two of the lugs. Its just a variable resistor. If you turn a 500k pot down to 250k, its electrically identical to a 250k pot. You, of course, wouldn't know the exact position that equaled 250k, but you don't need to. You just roll the tone control back a bit, and then ask yourself if you'ld ever want to roll it back up again.
The loading of a volume control is different, however. The "load" affect is a function of the outside two terminals, which stays at constant resistance of whatever the pot value is.
Fritz's trick of using the resistors in parallel is correct as a temporary test. Although, I'm not sure why he's saying to use 2 1 meg's, instead of just one 500k.
Artie