Re: Which pot's value has biggest effect on tone? The volume pot or the tone pot?
To my ears the volume pot change is more noticeable than a tone pot change, when all are on "10", and if it is a 22nF capacitor then it's an even smaller difference.
Having said that, with most pickups you only get an audible difference that is useful to "fix" a guitar when you change all three, from 500/500/22 to 250/250/47. There are more sensitive pickups, such as my Antiquity buckers, that react to smaller difference, so YMMV.