But what are the fundamental differences? Tonally???
Basically, use the dreadnaught if the acoustic part is just supporting and not so important/expendable. Use a Jumbo if the acoustic is the main body of the music.
It might be because of my bluegrass background, but I've always seen the dreadnaught as more of a lead instrument. When I think of a dreadnaught player, I think of Tony Rice, Clarence White, Bryan Sutton, and Norman Blake. When I think of a jumbo player, I think of Emmylou Harris or Lyle Lovett, basically a front person strumming chords.
It probably is just my bluegrass background, though. Bluegrass players look at you funny if you don't use a dreadnaught. I've been frowned at more than once for using my slope shoulder jumbo. And for playing Am chords, but that's another story.
You are correct, but the reason those folks make it work is the microphone and mic preamp, not the guitar. I came to my opinion running the two different guitars through the same mic and preamp and trying to mix them with other instruments, in particular at least one other electric guitar.
The Jumbo having bass and treble and the Dread having mids intuitively makes some sense using Jumbo as scooped rhythm and Dread as punchy lead. But using the same mic and amp, the Dread style didn't have enough character and life while a Jumbo contained so much musical information and projected the intimate articulation of the fingers that, in my experience, made me think it should be used when acoustic is the primary sound.
You say TOE-MAY-TOE, I say TOE-MAH-TOE.
Whichever one hides your fat better, the one I go with.
The big Gibson Dreadnaughts ;like the Hummingbird and Dove ...
I'm not a fan of traditional jumbos, (such as the Hummingbird), ....